In the last trading session, 11.16 million Meta Platforms Inc (NASDAQ:META) shares changed hands as the company’s beta touched 1.21. With the company’s per share price at $495.89 changed hands at -$7.13 or -1.42% during last session, the market valuation stood at $1264.23B. META’s last price was a discount, traded about -5.58% off its 52-week high of $523.57. The share price had its 52-week low at $197.90, which suggests the last value was 60.09% up since then. When we look at Meta Platforms Inc’s average trading volume, we note the 10-day average is 12.56 million shares, with the 3-month average coming to 17.84 million.
Meta Platforms Inc (NASDAQ:META) trade information
Instantly META was in red as seen at the end of in last trading. With action -0.07%, the performance over the past five days has been red. The drop to weekly highs of 515.04 subtracted -1.42% to the stock’s daily price. The company’s shares are showing year-to-date upside of 40.10%, with the 5-day performance at -0.07% in the red. However, in the 30-day time frame, Meta Platforms Inc (NASDAQ:META) is 2.94% up. Looking at the short shares, we see there were 27.73 million shares sold at short interest cover period of 1.22 days.
Meta Platforms Inc (META) estimates and forecasts
Data shows that the Meta Platforms Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 64.84% over the past 6 months, a 34.10% in annual growth rate that is considerably higher than the industry average of 19.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Meta Platforms Inc will rise 80.00%, while the growth in revenue is estimated to hit 47.30% for the next quarter. Year-over-year growth is forecast to reach 17.30% up from the last financial year.
Consensus estimates given by 43 financial analysts project the company’s revenue in the current quarter to hit an average of $33.36 billion. 42 analysts are of the opinion that Meta Platforms Inc’s revenue for the quarter ending Jun 2024 will be $35.35 billion. The company’s revenue for the corresponding quarters a year ago was $28.64 billion and $30.41 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 16.50%. The estimates for the next quarter sales put growth at 16.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 14.46%. The 2024 estimates are for Meta Platforms Inc earnings to increase by 35.01%, but the outlook for the next 5-year period is at 26.00% per year.
META Dividends
Meta Platforms Inc is expected to release its next quarterly earnings report between April 24 and April 29. The 0.10% annual yield figure for the share gives it an annual dividend of 0.50. It is important to note, however, that the 0.10% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Meta Platforms Inc (NASDAQ:META)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.16% of Meta Platforms Inc shares while 79.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.77%. There are 79.65% institutions holding the Meta Platforms Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 8.26% of the shares, roughly 183.24 million META shares worth $55.01 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.03% or 155.97 million shares worth $46.82 billion as of Sep 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 69.2 million shares estimated at $20.78 billion under it, the former controlled 3.12% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.41% of the shares, roughly 53.41 million shares worth around $16.03 billion.
