Meta Platforms, Inc. (NASDAQ:META) Insider Nicholas Clegg Sells 7,296 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Nicholas Clegg also recently made the following trade(s):

• On Friday, November 15th, Nicholas Clegg sold 1,131 shares of Meta Platforms stock. The stock was sold at an average price of $577.16, for a total transaction of $652,767.96.

Meta Platforms Stock Performance

Shares of META stock opened at $561.09 on Wednesday. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $570.23 and its 200-day simple moving average is $522.73.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given 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 yield of 0.36%. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on META shares. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Loop Capital lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Raymond James boosted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Scotiabank dropped their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, Pivotal Research upped their price target 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of META. International Assets Investment Management LLC increased 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 buying an additional 9,500,444 shares during the last quarter. Capital Research Global Investors grew its position in 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 worth $16,799,612,000 after acquiring an additional 4,379,826 shares in the last quarter. Integrated Investment Consultants LLC increased its stake 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 worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms during the 2nd quarter valued at $595,152,000. Finally, World Investment Advisors LLC lifted its stake in shares of 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 valued at $520,662,000 after purchasing an additional 890,434 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.