Meta Platforms (NASDAQ:META) Stock Price Up 2.9% – Still a Buy?

Meta Platforms, Inc. (NASDAQ:META) was up 2.9% during trading on Friday. The company traded as high as $643.91 and last traded at $641.69. Approximately 15,043,147 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 18,091,543 shares. The stock had previously closed at $623.61.

Recent Meta Platforms Headlines

Investors following META have been watching these headlines:

• Positive Sentiment: Meta is testing a prediction-market app with employees, using non-cash “cred” to wager on outcomes. If developed for broader use, it could create another engagement feature, though the report describes an early-stage test. Article: Meta employees test prediction-market app
• Negative Sentiment: A UK regulator fined Meta over repeated inaccuracies in WhatsApp Business data, adding regulatory and reputational pressure. Article: Meta fined by UK regulator
• Negative Sentiment: Nonprofits have sued Meta and other major AI companies over risks from advanced AI, creating potential legal and reputational exposure. Article: Nonprofits sue AI companies over advanced AI risks

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. Sanford C. Bernstein restated an “outperform” rating and set a $800.00 price target (down from $850.00) on shares of Meta Platforms in a research report on Thursday, July 30th. Barclays increased their price objective on shares of Meta Platforms from $780.00 to $880.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. CICC Research decreased their target price on shares of Meta Platforms from $773.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, August 27th. Finally, KeyCorp upped their price target on Meta Platforms from $900.00 to $905.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $833.12.

Meta Platforms Stock Up 2.9%

The firm’s fifty day simple moving average is $679.23 and its two-hundred day simple moving average is $631.88. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. The business had revenue of $64.60 billion during the quarter, compared to the consensus estimate of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The business’s revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the firm earned $7.25 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were given a $0.5250 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms’s dividend payout ratio is presently 7.16%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 946 shares of Meta Platforms stock in a transaction on Monday, November 9th. The stock was sold at an average price of $631.03, for a total value of $596,954.38. Following the sale, the chief operating officer owned 3,148 shares in the company, valued at $1,986,482.44. The trade was a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 150,973 shares of company stock worth $103,128,307 over the last ninety days. 13.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Meta Platforms

Hedge funds have recently modified their holdings of the business. Advantage Trust Co purchased a new stake in shares of Meta Platforms during the second quarter worth about $28,000. Philadelphia Investment Partners LLC purchased a new position in Meta Platforms during the 2nd quarter valued at about $32,000. Horizons Wealth Management purchased a new position in Meta Platforms during the 3rd quarter valued at about $33,000. Axiom Investment Management LLC purchased a new position in Meta Platforms during the 1st quarter valued at about $36,000. Finally, Schuylkill Financial LLC bought a new position in Meta Platforms during the 2nd quarter valued at approximately $36,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

About Meta Platforms

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.