Meta Platforms (NASDAQ:META) Stock Price Up 0% on Analyst Upgrade

Meta Platforms, Inc. (NASDAQ:META)’s stock price was up 0% on Tuesday after Tigress Financial raised their price target on the stock from $645.00 to $935.00. Tigress Financial currently has a strong-buy rating on the stock. Meta Platforms traded as high as $718.47 and last traded at $717.76. Approximately 3,389,246 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 15,414,232 shares. The stock had previously closed at $717.40.

Other analysts also recently issued reports about the stock. Mizuho upped their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research lifted their price objective on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Arete Research upgraded Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Scotiabank raised their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Two investment 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $717.90.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 756,735 shares of company stock valued at $475,285,232 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds have recently added to or reduced their stakes in META. AMF Tjanstepension AB grew its holdings in Meta Platforms by 32.5% during the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after purchasing an additional 112,047 shares during the period. Retirement Planning Group LLC increased its position in shares of Meta Platforms by 12.8% in the 3rd quarter. Retirement Planning Group LLC now owns 1,330 shares of the social networking company’s stock valued at $761,000 after buying an additional 151 shares in the last quarter. Stonekeep Investments LLC raised its stake in Meta Platforms by 2.3% during the 3rd quarter. Stonekeep Investments LLC now owns 1,516 shares of the social networking company’s stock worth $868,000 after buying an additional 34 shares during the period. Sunflower Bank N.A. lifted its holdings in shares of Meta Platforms by 3.9% during the 3rd quarter. Sunflower Bank N.A. now owns 2,682 shares of the social networking company’s stock valued at $1,535,000 after purchasing an additional 100 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in Meta Platforms by 2.6% during the 3rd quarter. Rise Advisors LLC now owns 1,372 shares of the social networking company’s stock worth $785,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.1 %

The firm has a market capitalization of $1.82 trillion, a P/E ratio of 29.97, a PEG ratio of 1.46 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. The firm’s 50-day moving average is $629.73 and its 200 day moving average is $576.95.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the business posted $5.33 EPS. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.66 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 8.36%.

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.