Meta Platforms, Inc. (NASDAQ:META) Insider Jennifer Newstead Sells 902 Shares

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 902 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $713.32, for a total value of $643,414.64. Following the transaction, the insider now owns 27,488 shares in the company, valued at $19,607,740.16. This trade represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, February 4th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $702.24, for a total transaction of $635,527.20.
• On Tuesday, January 28th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $666.00, for a total transaction of $602,730.00.
• On Tuesday, January 21st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $618.00, for a total transaction of $559,290.00.
• On Tuesday, January 14th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $604.54, for a total value of $547,108.70.
• On Tuesday, January 7th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $631.55, for a total value of $571,552.75.
• On Tuesday, December 31st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $591.76, for a total value of $535,542.80.
• On Tuesday, December 24th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $602.47, for a total value of $545,235.35.
• On Tuesday, December 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $626.66, for a total value of $567,127.30.
• 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.

Meta Platforms Stock Up 0.4 %

Meta Platforms stock opened at $728.56 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $729.00. The firm’s fifty day simple moving average is $636.47 and its 200-day simple moving average is $580.80. The company has a market capitalization of $1.85 trillion, a P/E ratio of 30.46, a P/E/G ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 quarter last year, the company earned $5.33 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms’s payout ratio is 8.36%.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in META. Seelaus Asset Management LLC grew its stake in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning boosted its holdings in Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC boosted its holdings in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares during the period. Riverwater Partners LLC grew its position in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after purchasing an additional 15 shares during the last quarter. Finally, Stephens Consulting LLC increased its stake in shares of Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on META. Sanford C. Bernstein raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Tigress Financial lifted their target price on Meta Platforms from $645.00 to $935.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Mizuho lifted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $717.90.

About Meta Platforms

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.