Jennifer Newstead Sells 905 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META) insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total transaction of $511,596.50. Following the transaction, the insider now directly owns 37,790 shares in the company, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, November 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70.
• On Tuesday, October 29th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50.
• On Tuesday, October 22nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50.
• On Tuesday, October 15th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85.
• On Tuesday, October 8th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $589.89, for a total transaction of $533,850.45.
• On Tuesday, October 1st, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75.
• On Tuesday, September 17th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $537.72, for a total transaction of $486,636.60.
• On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15.
• On Tuesday, September 3rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $520.00, for a total transaction of $470,600.00.

Meta Platforms Stock Up 0.9 %

META stock opened at $574.32 on Friday. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.25 and a beta of 1.22. The firm has a 50-day simple moving average of $575.21 and a 200-day simple moving average of $527.37. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Institutional Trading of Meta Platforms

A number of institutional investors and hedge funds have recently modified their holdings of META. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 3rd quarter valued at about $36,000. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its stake 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 acquiring an additional 44 shares in the last quarter. Finally, Halpern Financial Inc. purchased a new stake 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. DA Davidson assumed coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Bank of America raised their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities raised their target price on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets raised their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.71.

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.