Meta Platforms (NASDAQ:META) Stock Price Down 1.8% – Time to Sell?

Meta Platforms, Inc. (NASDAQ:META)’s share price dropped 1.8% during mid-day trading on Friday . The stock traded as low as $594.45 and last traded at $595.19. Approximately 11,317,116 shares changed hands during trading, a decline of 32% from the average daily volume of 16,727,107 shares. The stock had previously closed at $606.10.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta’s social-media addiction lawsuit was dropped before trial, reducing an overhang from a potentially costly legal fight. Social media addiction lawsuit against Meta is dropped
• Positive Sentiment: Wells Fargo raised its price target on Meta to $835, signaling continued analyst confidence ahead of earnings. Wells Fargo & Company Increases Meta Platforms (NASDAQ:META) Price Target to $835.00
• Positive Sentiment: Meta is rolling out engagement-focused product updates, including a dedicated Marketplace seller app, free verification, and a more video-centric Facebook experience, which could support user activity and ad opportunities. Meta launches new app ‘Seller’ to provide sales tools for merchants
• Neutral Sentiment: Meta and other large tech names are defending open AI models in Washington, underscoring the policy importance of the company’s AI strategy but not changing fundamentals immediately. Microsoft, Meta, Nvidia, and Palantir have a message for Washington
• Neutral Sentiment: Wall Street is closely watching Meta’s upcoming earnings for signs that ad growth can keep up with rising AI investment, making the report a key catalyst. Countdown to Meta Platforms (META) Q2 Earnings: Wall Street Forecasts for Key Metrics
• Negative Sentiment: Moody’s warned that “unprecedented” AI spending is threatening credit quality at hyperscalers including Meta, reinforcing concerns that the company may be spending too aggressively. Moody’s says ‘unprecedented’ AI spending threatens credit quality of Amazon, Meta, Alphabet and others
• Negative Sentiment: Investor anxiety about AI capex across the “Magnificent 7” is pressuring Meta alongside peers, as the market questions whether returns will justify the spending spree. Magnificent 7 stocks shed hundreds of billions amid AI spending fears

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on META shares. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $767.00 to $835.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America cut their price target on shares of Meta Platforms from $885.00 to $820.00 and set a “buy” rating for the company in a report on Monday, April 20th. KeyCorp restated an “overweight” rating and issued a $760.00 price target on shares of Meta Platforms in a research report on Thursday, April 30th. Wedbush began coverage on shares of Meta Platforms in a research note on Thursday, July 16th. They set a “neutral” rating and a $671.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Five research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $835.64.

Meta Platforms Stock Performance

The company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a 50 day moving average price of $604.90 and a two-hundred day moving average price of $625.98.

Meta Platforms (NASDAQ:META) 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. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same quarter in the prior year, the company earned $6.43 EPS. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 30.07 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.63%.

Insider Activity

In other Meta Platforms news, Director Robert M. Kimmitt sold 500 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $607.75, for a total transaction of $303,875.00. Following the transaction, the director owned 3,443 shares of the company’s stock, valued at approximately $2,092,483.25. This represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 3,348 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the completion of the transaction, the chief operating officer owned 9,498 shares in the company, valued at $5,708,013.06. The trade was a 26.06% 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 37,948 shares of company stock valued at $23,184,319 over the last three months. 13.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Meta Platforms

Several large investors have recently made changes to their positions in META. RHL Group LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $28,000. Advantage Trust Co acquired a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Niles Investment Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Finally, Axiom Investment Management LLC acquired a new position in Meta Platforms in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

About Meta Platforms

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.