Jennifer Newstead Sells 905 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares in the company, valued at $18,262,708.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $574.70, for a total transaction 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 transaction of $533,922.85.
• On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was 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.
• On Tuesday, September 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60.
• On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15.
• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00.
• On Tuesday, August 27th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25.
• On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90.
• On Friday, August 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05.

Meta Platforms Stock Down 0.1 %

Shares of Meta Platforms stock opened at $567.16 on Friday. The company has a 50-day simple moving average of $555.99 and a two-hundred day simple moving average of $513.03. Meta Platforms, Inc. has a 52-week low of $308.33 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. On average, analysts anticipate that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on META. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. TD Securities increased their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Mizuho increased their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday. Tigress Financial increased their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently bought and sold shares of the business. Troy Asset Management Ltd raised its position in Meta Platforms by 5.5% in the 3rd quarter. Troy Asset Management Ltd now owns 101,634 shares of the social networking company’s stock worth $58,179,000 after buying an additional 5,266 shares during the last quarter. Mach 1 Financial Group LLC grew its stake in shares of Meta Platforms by 7.0% during the 3rd quarter. Mach 1 Financial Group LLC now owns 2,016 shares of the social networking company’s stock valued at $1,154,000 after purchasing an additional 132 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in shares of Meta Platforms by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 39,414 shares of the social networking company’s stock valued at $22,569,000 after purchasing an additional 428 shares during the period. XML Financial LLC grew its stake in shares of Meta Platforms by 7.7% during the 3rd quarter. XML Financial LLC now owns 1,685 shares of the social networking company’s stock valued at $965,000 after purchasing an additional 120 shares during the period. Finally, Austin Asset Management Co Inc grew its stake in shares of Meta Platforms by 2.9% during the 3rd quarter. Austin Asset Management Co Inc now owns 1,617 shares of the social networking company’s stock valued at $926,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.