Meta Platforms (NASDAQ:META) Stock Price Down 4.3% Following Insider Selling

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) dropped 4.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $625.97 and last traded at $626.93. Approximately 7,612,104 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 13,597,387 shares. The stock had previously closed at $655.05.

Specifically, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the transaction, the insider now directly owns 308,686 shares of the company's stock, valued at $209,199,589.06. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $665.75, for a total transaction of $613,155.75. Following the sale, the insider now directly owns 34,866 shares in the company, valued at $23,212,039.50. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In related news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $686.28, for a total value of $417,258.24. Following the completion of the transaction, the chief operating officer now owns 9,270 shares in the company, valued at approximately $6,361,815.60. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Raymond James restated a "strong-buy" rating and set a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Morgan Stanley increased their price target on Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Finally, Scotiabank boosted their price objective on Meta Platforms from $583.00 to $627.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $719.26.

Meta Platforms Price Performance

The company has a 50-day simple moving average of $656.39 and a 200-day simple moving average of $599.31. The company has a market cap of $1.59 trillion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm posted $5.33 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is presently 8.78%.

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently modified their holdings of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter worth about $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $40,000. Avondale Wealth Management purchased a new position in Meta Platforms during the 4th quarter valued at about $41,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.