Meta Platforms (NASDAQ:META) Price Target Raised to $625.00 at Wells Fargo & Company

Meta Platforms (NASDAQ:METAFree Report) had its price target raised by Wells Fargo & Company from $593.00 to $625.00 in a research report report published on Monday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the social networking company’s stock.

Several other equities analysts have also commented on META. Robert W. Baird lowered their price target on shares of Meta Platforms from $525.00 to $500.00 and set an outperform rating for the company in a research report on Thursday, April 25th. TD Cowen decreased their target price on shares of Meta Platforms from $590.00 to $530.00 and set a buy rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group decreased their target price on shares of Meta Platforms from $555.00 to $500.00 and set a buy rating for the company in a research report on Thursday, April 25th. KeyCorp increased their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the company an overweight rating in a research report on Thursday, June 20th. Finally, Benchmark reiterated a hold rating on shares of Meta Platforms in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $515.64.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ:META opened at $534.69 on Monday. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. Meta Platforms has a 1-year low of $274.38 and a 1-year high of $542.81. The company’s fifty day moving average is $490.20 and its two-hundred day moving average is $464.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts anticipate that Meta Platforms will post 20.15 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $517.75, for a total value of $253,697.50. Following the sale, the chief operating officer now owns 7,579 shares in the company, valued at $3,924,027.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $517.75, for a total value of $253,697.50. Following the completion of the sale, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold a total of 294,768 shares of company stock worth $146,314,257 over the last 90 days. Insiders own 13.71% of the company’s stock.

Institutional Trading of Meta Platforms

A number of large investors have recently bought and sold shares of META. Delos Wealth Advisors LLC raised its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Meta Platforms in the first quarter worth approximately $44,000. Finally, Clear Investment Research LLC lifted its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Company Profile

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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.

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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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