Meta Platforms (NASDAQ:META – Get Free Report) issued its quarterly earnings results on Wednesday. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39, reports. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms updated its Q2 2024 guidance to EPS.
Meta Platforms Stock Up 0.2 %
Meta Platforms stock opened at $442.37 on Friday. Meta Platforms has a twelve month low of $229.85 and a twelve month high of $531.49. The stock has a 50 day moving average of $495.08 and a two-hundred day moving average of $403.40. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.26 and a beta of 1.20.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Meta Platforms’s dividend payout ratio is presently 11.49%.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total value of $228,664.00. Following the completion of the sale, the insider now directly owns 34,720 shares of the company’s stock, valued at $14,026,880. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,349,148 shares of company stock valued at $649,552,559. 13.75% of the stock is owned by company insiders.
Institutional Trading of Meta Platforms
Several hedge funds have recently modified their holdings of the business. S.A. Mason LLC increased its stake in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the last quarter. LongView Wealth Management increased its stake in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the last quarter. Hanson & Doremus Investment Management increased its stake in shares of Meta Platforms by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after acquiring an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc increased its stake in shares of Meta Platforms by 1.6% in the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after acquiring an additional 23 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.
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.
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