Meta Platforms, Inc. (NASDAQ:META) Insider Sells $567,127.30 in Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $626.66, for a total transaction of $567,127.30. Following the transaction, the insider now owns 34,725 shares in the company, valued at approximately $21,760,768.50. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $618.00, for a total transaction of $559,290.00.
• On Tuesday, December 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $595.00, for a total transaction of $538,475.00.
• On Tuesday, November 26th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $565.30, for a total transaction of $511,596.50.
• On Tuesday, November 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The shares were sold at an average price of $567.70, for a total value of $511,497.70.
• On Tuesday, October 29th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $580.10, for a total value of $524,990.50.
• On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $574.70, for a total value of $520,103.50.
• On Tuesday, October 15th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $589.97, for a total value of $533,922.85.
• On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.89, for a total transaction of $533,850.45.
• On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $578.55, for a total transaction of $523,587.75.

Meta Platforms Stock Down 0.3 %

Shares of NASDAQ:META traded down $1.62 during midday trading on Thursday, hitting $595.57. The stock had a trading volume of 14,144,983 shares, compared to its average volume of 14,726,542. The company has a market cap of $1.50 trillion, a P/E ratio of 28.05, a PEG ratio of 1.39 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $340.01 and a 12 month high of $638.40. The business’s 50-day simple moving average is $585.42 and its 200-day simple moving average is $540.85. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is 9.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in META. MFA Wealth Advisors LLC acquired a new position in Meta Platforms in the 2nd quarter valued at $205,000. Fifth Third Wealth Advisors LLC increased its position in Meta Platforms by 214.3% during the second quarter. Fifth Third Wealth Advisors LLC now owns 31,929 shares of the social networking company’s stock worth $16,099,000 after acquiring an additional 21,770 shares during the period. Lecap Asset Management Ltd. acquired a new stake in Meta Platforms in the 2nd quarter worth about $907,000. KG&L Capital Management LLC boosted its holdings in Meta Platforms by 3.5% in the 2nd quarter. KG&L Capital Management LLC now owns 9,094 shares of the social networking company’s stock valued at $4,585,000 after purchasing an additional 310 shares during the period. Finally, Vicus Capital grew its position in shares of Meta Platforms by 4.7% during the 2nd quarter. Vicus Capital now owns 4,347 shares of the social networking company’s stock worth $2,192,000 after purchasing an additional 195 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Scotiabank cut their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $638.00.

Meta Platforms Company Profile

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.