Greenwoods Asset Management Hong Kong Ltd. Reduces Position in Meta Platforms, Inc. $META

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Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the business posted $6.43 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 7.63%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $629.45, for a total value of $1,748,612.10. Following the completion of the transaction, the chief operating officer directly owned 10,557 shares of the company’s stock, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. This trade represents a 41.08% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 40,366 shares of company stock valued at $25,038,396. Company insiders own 13.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on META. Evercore increased their price objective on shares of Meta Platforms from $875.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Wolfe Research decreased their price objective on shares of Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Guggenheim decreased their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Canaccord Genuity Group increased their price objective on shares of Meta Platforms from $900.00 to $930.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $900.00 price objective on shares of Meta Platforms in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $840.19.

View Our Latest Analysis on META

Meta Platforms Company Profile

(Free Report)

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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