Meta Platforms (NASDAQ:META) PT Lowered to $535.00 at Truist Financial

Meta Platforms (NASDAQ:META) had its price objective reduced by Truist Financial from $550.00 to $535.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the social networking company’s stock.

META has been the subject of several other research reports. Mizuho upped their target price on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a buy rating in a report on Friday, February 2nd. Oppenheimer decreased their price target on shares of Meta Platforms from $585.00 to $500.00 and set an outperform rating on the stock in a research note on Thursday. Sanford C. Bernstein decreased their price target on shares of Meta Platforms from $590.00 to $565.00 and set an outperform rating on the stock in a research note on Thursday. TD Cowen decreased their price target on shares of Meta Platforms from $590.00 to $530.00 and set a buy rating on the stock in a research note on Thursday. Finally, Citigroup boosted their price target on shares of Meta Platforms from $525.00 to $590.00 and gave the stock a buy rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $509.18.

Meta Platforms Trading Up 0.4 %

Shares of META stock opened at $443.29 on Thursday. Meta Platforms has a 1 year low of $229.85 and a 1 year high of $531.49. The firm has a fifty day moving average price of $494.48 and a 200-day moving average price of $404.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.13 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts predict that Meta Platforms will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The sale was disclosed in a filing with the SEC, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Insiders have sold 1,349,148 shares of company stock worth $649,552,559 in the last three months. Corporate insiders own 13.75% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. FMR LLC boosted its stake in shares of Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares in the last quarter. Capital World Investors boosted its stake in shares of Meta Platforms by 2.5% during the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares in the last quarter. Morgan Stanley boosted its stake in shares of Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares in the last quarter. Finally, Capital International Investors lifted its position in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

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.