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

by · The Markets Daily

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the sale, the insider now owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Tuesday, September 10th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was 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 stock was sold at an average price of $520.00, for a total transaction of $470,600.00.
  • On Tuesday, August 27th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25.
  • On Tuesday, August 20th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $528.38, for a total value of $478,183.90.
  • On Friday, August 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $532.21, for a total value of $481,650.05.
  • On Monday, August 5th, Jennifer Newstead sold 901 shares of Meta Platforms stock. The stock was sold at an average price of $451.15, for a total value of $406,486.15.
  • On Tuesday, July 23rd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $489.80, for a total transaction of $443,269.00.
  • On Tuesday, July 16th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $501.42, for a total transaction of $453,785.10.
  • On Tuesday, July 9th, Jennifer Newstead sold 905 shares of Meta Platforms stock. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75.
  • On Tuesday, July 2nd, Jennifer Newstead sold 905 shares of Meta Platforms stock. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85.

Meta Platforms Stock Up 0.4 %

Shares of META opened at $561.35 on Friday. The stock has a fifty day simple moving average of $506.33 and a two-hundred day simple moving average of $496.78. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.42 trillion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $564.50.

Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Hedge Funds Weigh In On Meta Platforms

Large investors have recently modified their holdings of the business. Vantage Financial Partners LLC boosted its stake in Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares during the period. Concentrum Wealth Management lifted its holdings in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC boosted its position in shares of Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares during the period. 9258 Wealth Management LLC increased its holdings in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Rollins Financial raised its position in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their price target on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Guggenheim upped their price objective on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler lifted their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Truist Financial increased their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Read Our Latest Research Report on META

About Meta Platforms

(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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