Meta Platforms (NASDAQ:META) Stock Price Down 0.9% – Should You Sell?

Meta Platforms, Inc. (NASDAQ:META) shares dropped 0.9% during mid-day trading on Friday . The company traded as low as $556.49 and last traded at $558.09. Approximately 2,153,327 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 14,940,208 shares. The stock had previously closed at $563.09.

Analysts Set New Price Targets

Several brokerages have issued reports on META. Susquehanna upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. JMP Securities boosted their price target on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. DA Davidson initiated coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective for the company. Citigroup increased their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets lifted their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Trading Down 0.7 %

The stock has a 50 day moving average of $572.74 and a 200-day moving average of $524.35. The company has a market capitalization of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s payout ratio is 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total value of $469,740.25. Following the transaction, the insider now owns 39,627 shares of the company’s stock, valued at approximately $20,568,394.35. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,843 shares of company stock valued at $92,083,554 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindenwold Advisors INC raised its stake in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC increased its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised its position in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. grew its position in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares in the last quarter. 79.91% of the stock is 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.