Meta Platforms, Inc. (NASDAQ:META – Get Free Report) shares rose 4.7% during mid-day trading on Thursday . The company traded as high as $633.27 and last traded at $631.48. 25,355,214 shares traded hands during mid-day trading, an increase of 52% from the average daily volume of 16,646,268 shares. The stock had previously closed at $603.12.
Meta Platforms News Summary
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta launched Muse Spark 1.1 and opened developer access, signaling stronger AI product momentum and a more direct challenge to Google and OpenAI. Reuters: Meta debuts Muse Spark 1.1 with preview open to developers
- Positive Sentiment: Reports that Meta plans to start manufacturing its own AI chips in September raised hopes for lower GPU costs and better control over its AI supply chain. Reuters: Meta to put AI chip into production in September
- Positive Sentiment: Meta’s AI infrastructure buildout, including a major data center investment in Canada, reinforces its commitment to scaling compute and monetizing AI over time. Reuters: Meta to build C$13 billion Alberta data center
- Neutral Sentiment: Analysts and commentators continue debating whether Meta’s large AI spending will pay off, with some warning that capex concerns could pressure margins in the near term.
- Neutral Sentiment: Meta has also faced negative headlines around privacy, legal risk, and scrutiny of its AI products, but those issues appear secondary to today’s AI growth narrative.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on META. JPMorgan Chase & Co. restated a “neutral” rating and issued a $725.00 price target (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. BNP Paribas Exane started coverage on shares of Meta Platforms in a report on Tuesday, June 2nd. They issued an “outperform” rating on the stock. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $765.00 to $767.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Cantor Fitzgerald cut their target price on shares of Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group cut Meta Platforms from a “buy” rating to a “sell” rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $840.64.
Meta Platforms Price Performance
The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.09 and a beta of 1.25. The company’s 50 day moving average is $598.90 and its 200 day moving average is $626.99. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.43 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 29.46 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is currently 7.63%.
Insider Activity
In other news, COO Javier Olivan sold 3,348 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $600.97, for a total transaction of $2,012,047.56. Following the completion of the sale, the chief operating officer directly owned 9,498 shares in the company, valued at approximately $5,708,013.06. This represents a 26.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $607.75, for a total value of $303,875.00. Following the sale, the director directly owned 3,443 shares in the company, valued at approximately $2,092,483.25. This trade represents a 12.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 44,748 shares of company stock worth $27,565,292. Corporate insiders own 13.53% of the company’s stock.
Institutional Investors Weigh In On Meta Platforms
Several institutional investors and hedge funds have recently bought and sold shares of META. Keybank National Association OH grew its position in Meta Platforms by 15.7% in the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock valued at $88,319,000 after purchasing an additional 18,169 shares during the period. WMS Group LLC acquired a new position in Meta Platforms during the fourth quarter worth $876,000. Diversified Trust Co. raised its holdings in Meta Platforms by 4.1% during the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after buying an additional 3,336 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its stake in shares of Meta Platforms by 16.2% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock valued at $5,091,000 after buying an additional 968 shares in the last quarter. Finally, Consolidated Investment Group LLC grew its holdings in shares of Meta Platforms by 61.2% during the fourth quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock valued at $5,215,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Company Profile
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
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