Meta Platforms, Inc. Insider Jennifer Newstead Sells 921 Shares

On March 18th, 2023, Jennifer Newstead, an insider at Meta Platforms, Inc. (NASDAQ:META), sold 921 shares of the company's stock. This transaction took place at an average price of $600.25 per share, resulting in a total sale value of $552,830.25. After this sale, Newstead now directly owns 32,103 shares of Meta's stock, valued at approximately $19,269,825.75. It's important to note that this sale represents a 2.79% decrease in her ownership percentage of the company. This transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed online.

Recently, Newstead has been active in trading Meta Platforms stock. On March 11th, she sold another 921 shares at an average price of $595.00 for a total of $547,995.00. On March 4th, she also sold 921 shares, this time at an average of $644.00, amounting to $593,124.00. Earlier, on February 25th, she sold the same number of shares at an average of $665.75, collecting $613,155.75. Other recent transactions include selling 921 shares at $736.07 and 902 shares at $713.32 in mid-February. Newstead has consistently sold hundreds of shares in recent months, indicating a trend in her transactions at varying price points.

Meta Platforms Share Performance

As of Thursday, March 21, 2023, Meta Platforms' stock traded up by 0.3%, reaching $586.00 during midday trading. A total of 24,283,168 shares changed hands, significantly higher than its average volume of 13,719,554 shares. The company's 50-day moving average stands at $656.27, while the 200-day moving average is at $604.69. Meta has recorded a 12-month low of $414.50 and a high of $740.91. Additionally, the company boasts a market capitalization of $1.48 trillion and a price-to-earnings (P/E) ratio of 24.50.

Quarterly Dividends and Future Prospects

Meta Platforms recently announced an increase in its quarterly dividend, which is set to be paid on March 26th, 2023. Shareholders of record on March 14th will receive a dividend of $0.525 per share, marking a total annualized dividend of $2.10, which represents a yield of 0.36%. This is a rise from the previous dividend of $0.50, indicating the company's commitment to returning value to its shareholders with a payout ratio of 8.78%.

Institutional Investment Activity

In terms of institutional involvement, several hedge funds have adjusted their stakes in Meta Platforms recently. M1 Capital Management LLC acquired a new position worth $4,346,000, while DSG Capital Advisors LLC invested $9,968,000 during the fourth quarter. This reflects a growing interest among institutional investors, who now hold 79.91% of the company's stock.

Wall Street Analysts' Opinions

Brokerage firms have varying opinions on Meta's stock. JPMorgan Chase & Co. recently raised their target price for Meta from $660.00 to $725.00, signaling an overweight rating. Similarly, Bank of America increased their target from $710.00 to $765.00, labeling it as a buy. The overall market sentiment leans positive, with a consensus that rates the stock as a moderate buy and an average target price of $718.31.

Conclusion

Meta Platforms continues to demonstrate significant trading activity and institutional interest which can influence its performance in the stock market. Upcoming earnings results and the increase in dividends may signal upward trends for investors looking at the future market.

Meta, Stocks, Transaction, Ownership, Dividends