Meta Platforms (NASDAQ:META) Given New $935.00 Price Target at Tigress Financial

Meta Platforms (NASDAQ:META) had its price objective increased by Tigress Financial from $645.00 to $935.00 in a report released on Tuesday morning,Benzinga reports. Tigress Financial currently has a strong-buy rating on the social networking company’s stock.

META has been the subject of a number of other reports. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Wolfe Research boosted their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Oppenheimer boosted their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $717.90.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $719.80 on Tuesday. Meta Platforms has a 52 week low of $414.50 and a 52 week high of $725.01. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 30.09, a PEG ratio of 1.46 and a beta of 1.20. The firm has a fifty day simple moving average of $631.85 and a two-hundred day simple moving average of $578.74. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm posted $5.33 earnings per share. On average, analysts expect that Meta Platforms will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.36%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the sale, the chief technology officer now directly owns 8,565 shares in the company, valued at $4,943,375.40. This trade represents a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 756,735 shares of company stock valued at $475,285,232 in the last ninety days. Insiders own 13.71% of the company’s stock.

Institutional Trading of Meta Platforms

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after buying an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Jennison Associates LLC raised its position in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. raised its position in Meta Platforms by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock worth $8,344,552,000 after acquiring an additional 424,201 shares during the period. Finally, International Assets Investment Management LLC raised its position in Meta Platforms by 57,001.5% during 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 acquiring an additional 9,500,444 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

About Meta Platforms

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.