Meta Platforms (NASDAQ:META) Price Target Raised to $675.00 at Susquehanna

Meta Platforms (NASDAQ:META) had its price objective lifted by Susquehanna from $600.00 to $675.00 in a report released on Thursday, Benzinga reports. They currently have a positive rating on the social networking company’s stock.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group upped their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer upped their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 0.1 %

Shares of META stock opened at $567.16 on Thursday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.72, a P/E/G ratio of 1.36 and a beta of 1.22. Meta Platforms has a twelve month low of $308.33 and a twelve month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $555.99 and its 200 day simple moving average is $513.25.

Meta Platforms (NASDAQ:META) last announced its 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms will post 21.84 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm 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. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peggy Alford sold 1,052 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total value of $503,908.00. Following the sale, the director now owns 6,168 shares in the company, valued at $2,954,472. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,092 shares of company stock valued at $132,865,496. Company insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. increased its holdings in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Finally, Halpern Financial Inc. purchased a new position in Meta Platforms during the 3rd quarter valued at about $46,000. 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.