Meta Platforms, Inc. (NASDAQ:META – Get Free Report) declared a quarterly dividend on Thursday, September 10th. Investors of record on Monday, September 21st will be paid a dividend of 0.525 per share by the social networking company on Monday, September 28th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 21st.
Meta Platforms has a dividend payout ratio of 7.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Meta Platforms to earn $34.19 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 6.1%.
Meta Platforms Stock Performance
NASDAQ META opened at $644.38 on Friday. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.13 and a beta of 1.25. Meta Platforms has a twelve month low of $520.26 and a twelve month high of $790.80. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $600.28 and a 200 day moving average of $608.66.
Insider Buying and Selling
In other Meta Platforms news, CTO Andrew Bosworth sold 7,848 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $4,379,184.00. Following the transaction, the chief technology officer directly owned 828 shares of the company’s stock, valued at $462,024. This trade represents a 90.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan Li sold 9,196 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total value of $5,063,409.56. Following the transaction, the chief financial officer owned 13,186 shares in the company, valued at approximately $7,260,343.46. This represents a 41.09% 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. Insiders have sold 41,581 shares of company stock worth $24,506,695 in the last 90 days. Corporate insiders own 13.53% of the company’s stock.
Hedge Funds Weigh In On Meta Platforms
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in Meta Platforms by 56,957.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,878,304,587 shares of the social networking company’s stock worth $1,058,030,191,000 after purchasing an additional 1,875,012,642 shares during the period. Auto Owners Insurance Co raised its position in Meta Platforms by 76,587.7% in the 4th quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company’s stock valued at $69,502,379,000 after purchasing an additional 105,154,977 shares in the last quarter. Norges Bank purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $22,152,075,000. Corient Private Wealth LP boosted its stake in shares of Meta Platforms by 723.1% in the 2nd quarter. Corient Private Wealth LP now owns 8,801,764 shares of the social networking company’s stock valued at $4,957,946,000 after buying an additional 7,732,446 shares during the period. Finally, Jupiter Topco LLC acquired a new position in shares of Meta Platforms during the second quarter worth about $2,948,486,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
About Meta Platforms
Meta Platforms, Inc develops technologies that help people connect, communicate and build communities online. The company’s principal products include Facebook, Instagram, Messenger, WhatsApp and Threads, which enable social networking, messaging, content sharing and digital communication.
Meta generates most of its business through advertising displayed across its family of apps. It also develops artificial intelligence technologies, business messaging tools and hardware and software through its Reality Labs division, including Quest virtual- and mixed-reality devices and related experiences.
The company was founded as Facebook in 2004 by Mark Zuckerberg and was renamed Meta Platforms in 2021 to reflect its broader focus on building the metaverse.
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