Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth Sells 14,746 Shares

Meta Platforms, Inc. (NASDAQ:META) CTO Andrew Bosworth sold 14,746 shares of the business’s 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 accessible through this hyperlink.

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

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

Meta Platforms Stock Performance

NASDAQ:META opened at $561.09 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock’s fifty day moving average is $570.23 and its 200 day moving average is $522.73. The firm has a market capitalization of $1.42 trillion, a PE ratio of 26.43, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm 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 0.36%. Meta Platforms’s dividend payout ratio is 9.42%.

Wall Street Analyst Weigh In

Several analysts have commented on META shares. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Barclays upped their price objective on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. Morgan Stanley upped their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Institutional Investors Weigh In On Meta Platforms

Institutional investors and hedge funds have recently modified their holdings of the business. Second Line Capital LLC boosted its position in Meta Platforms by 23.5% in the 3rd quarter. Second Line Capital LLC now owns 10,222 shares of the social networking company’s stock valued at $5,852,000 after buying an additional 1,948 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of Meta Platforms by 25.0% during the third quarter. Soltis Investment Advisors LLC now owns 21,462 shares of the social networking company’s stock valued at $12,286,000 after acquiring an additional 4,289 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Meta Platforms by 3.3% during the third quarter. Rehmann Capital Advisory Group now owns 11,194 shares of the social networking company’s stock valued at $6,425,000 after acquiring an additional 359 shares in the last quarter. Main Line Retirement Advisors LLC bought a new position in Meta Platforms in the third quarter worth approximately $236,000. Finally, TD Private Client Wealth LLC increased its holdings in Meta Platforms by 3.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 41,392 shares of the social networking company’s stock worth $23,694,000 after purchasing an additional 1,195 shares during the period. 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.