Meta Platforms, Inc. (NASDAQ:META) Insider Sells $613,155.75 in Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total value of $613,155.75. Following the completion of the sale, the insider now directly owns 34,866 shares of the company’s stock, valued at $23,212,039.50. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jennifer Newstead also recently made the following trade(s):

• On Tuesday, February 18th, Jennifer Newstead sold 921 shares of Meta Platforms stock. The stock was sold at an average price of $736.07, for a total value of $677,920.47.
• On Tuesday, February 11th, Jennifer Newstead sold 902 shares of Meta Platforms stock. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64.
• On Tuesday, February 4th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $702.24, for a total value of $635,527.20.
• On Tuesday, January 28th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $666.00, for a total transaction of $602,730.00.
• On Tuesday, January 21st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $618.00, for a total value of $559,290.00.
• On Tuesday, January 14th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $604.54, for a total transaction of $547,108.70.
• On Tuesday, January 7th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $631.55, for a total transaction of $571,552.75.
• On Tuesday, December 31st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $591.76, for a total value of $535,542.80.
• On Tuesday, December 24th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $602.47, for a total value of $545,235.35.
• On Tuesday, December 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $626.66, for a total value of $567,127.30.

Meta Platforms Price Performance

NASDAQ:META opened at $668.20 on Friday. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.69 trillion, a P/E ratio of 27.93, a PEG ratio of 1.42 and a beta of 1.20. The business’s 50-day moving average price is $653.18 and its 200 day moving average price is $596.59.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS 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 period in the prior year, the company posted $5.33 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed 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 0.31%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is 8.78%.

Hedge Funds Weigh In On Meta Platforms

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

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Mizuho increased their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Monday, January 27th. Jefferies Financial Group increased their target price on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $719.26.

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.