Insider Selling: Meta Platforms, Inc. (NASDAQ:META) CTO Sells 14,746 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 14,746 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.53, for a total value of $8,162,353.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Andrew Bosworth also recently made the following trade(s):

• On Friday, November 15th, Andrew Bosworth sold 5,057 shares of Meta Platforms stock. The shares were sold at an average price of $577.16, for a total transaction of $2,918,698.12.

Meta Platforms Stock Up 1.2 %

Shares of META traded up $6.69 during trading on Tuesday, reaching $561.09. The company’s stock had a trading volume of 9,155,606 shares, compared to its average volume of 15,035,363. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $569.10 and a two-hundred day moving average of $521.96. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for 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%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on META shares. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Oppenheimer boosted their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Monness Crespi & Hardt raised their target price on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Pivotal Research raised their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at $595,152,000. Finally, World Investment Advisors LLC increased its stake in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after purchasing an additional 890,434 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

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.