Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth Sells 5,057 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,918,698.12. Following the completion of the transaction, the chief technology officer now directly owns 8,565 shares in the company, valued at $4,943,375.40. This trade represents a 37.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Andrew Bosworth also recently made the following trade(s):

• On Monday, November 18th, Andrew Bosworth sold 14,746 shares of Meta Platforms stock. The stock was sold at an average price of $553.53, for a total value of $8,162,353.38.

Meta Platforms Price Performance

Meta Platforms stock opened at $561.09 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a 50 day moving average price of $570.23 and a 200 day moving average price of $522.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate 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 return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on META shares. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Tigress Financial lifted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. BMO Capital Markets boosted their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Finally, Citigroup increased their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently made changes to their positions in META. Lindenwold Advisors INC lifted its stake in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC raised its holdings in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares during the period. Cherrydale Wealth Management LLC lifted its position in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC boosted its holdings in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the period. Finally, Kozak & Associates Inc. grew its position in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds 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.