Meta Platforms (NASDAQ:META) Price Target Increased to $620.00 by Analysts at Roth Mkm

by · The Cerbat Gem

Meta Platforms (NASDAQ:META – Free Report) had its target price hoisted by Roth Mkm from $550.00 to $620.00 in a research note issued to investors on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the social networking company’s stock.

Several other research analysts also recently weighed in on the company. Benchmark reiterated a hold rating on shares of Meta Platforms in a report on Thursday, July 25th. Needham & Company LLC reissued an underperform rating on shares of Meta Platforms in a research note on Wednesday, September 4th. BMO Capital Markets upped their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the company a market perform rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a buy rating in a report on Thursday, August 1st. Finally, KeyCorp lifted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an overweight rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $609.71.

Read Our Latest Stock Report on META

Meta Platforms Trading Up 1.0 %

Shares of META opened at $589.95 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms has a 1-year low of $279.40 and a 1-year high of $602.95. The stock has a market cap of $1.49 trillion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The firm has a 50 day simple moving average of $538.12 and a 200-day simple moving average of $505.52.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.23 earnings per share. Equities analysts forecast that Meta Platforms will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 10.21%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the transaction, the insider now directly owns 34,197 shares in the company, valued at approximately $20,172,468.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the completion of the transaction, the insider now directly owns 34,197 shares in the company, valued at $20,172,468.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,443 shares of company stock worth $133,105,284 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently modified their holdings of META. Benson Investment Management Company Inc. lifted its stake in Meta Platforms by 0.4% during the third quarter. Benson Investment Management Company Inc. now owns 12,374 shares of the social networking company’s stock valued at $7,083,000 after buying an additional 55 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of Meta Platforms by 2.5% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 10,834 shares of the social networking company’s stock valued at $6,151,000 after acquiring an additional 266 shares in the last quarter. Iams Wealth Management LLC lifted its position in shares of Meta Platforms by 21.8% in the 3rd quarter. Iams Wealth Management LLC now owns 1,888 shares of the social networking company’s stock valued at $1,081,000 after acquiring an additional 338 shares in the last quarter. Creative Planning grew its position in Meta Platforms by 2.1% during the 3rd quarter. Creative Planning now owns 716,847 shares of the social networking company’s stock worth $410,352,000 after purchasing an additional 14,754 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its stake in Meta Platforms by 21.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 80,558 shares of the social networking company’s stock valued at $46,115,000 after purchasing an additional 14,456 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

(Get Free Report)

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.

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