In today’s recent session, 4.04 million shares of the Meta Platforms Inc (NASDAQ:META) have been traded, and its beta is 1.20. Most recently the company’s share price was $489.22, and it changed around $3.64 or 0.75% from the last close, which brings the market valuation of the company to $1247.22B. META at last check was trading at a discount to its 52-week high of $523.57, offering almost -7.02% off that amount. The share price’s 52-week low was $202.54, which indicates that the recent value has risen by an impressive 58.6% since then. We note from Meta Platforms Inc’s average daily trading volume that its 10-day average is 10.78 million shares, with the 3-month average coming to 17.86 million.
Meta Platforms Inc (NASDAQ:META) trade information
Instantly META has been showing a green trend so far today with a performance of 0.75% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 38.21% year-to-date, but still down -4.00% over the last five days. On the other hand, Meta Platforms Inc (NASDAQ:META) is -0.19% down in the 30-day period. We can see from the shorts that 29.92 million shares have been sold at a short interest cover period of 1.77 day(s).
The consensus price target as assigned by Wall Street analysts is $294.62, which translates to bulls needing to decrease their stock price by -66.05% from its current value. Analyst projections state that META is forecast to be at a low of $105 and a high of $575.
Meta Platforms Inc (META) estimates and forecasts
Meta Platforms Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 60.95 percent over the past six months and at a 34.10% annual growth rate that is well above the industry average of 19.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 94.10% in revenue this quarter, and will report an increase of 59.10% in the next quarter. The year-over-year growth rate is expected to be 17.30%, up from the previous year.
Consensus estimates provided by 43 financial analysts predict the company will bring in an average of $36.05 billion in revenue for the current quarter. 42 analysts expect Meta Platforms Inc to make $38.21 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $28.64 billion and $30.41 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 25.90%. Forecasts for the next quarter put sales growth at 25.60%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 14.46%. Meta Platforms Inc earnings are expected to increase by 35.01% in 2024, but the outlook is positive 26.00% per year for the next five years.
META Dividends
Meta Platforms Inc’s next quarterly earnings report is expected to be released around April 24 and April 29. The annual dividend yield of the stock is 0.10 percent and its annual dividend per share was 0.50. It is important to note, however, that the 0.10% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Meta Platforms Inc (NASDAQ:META)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.16% of Meta Platforms Inc shares, and 79.65% of them are in the hands of institutional investors. The stock currently has a share float of 79.78%. Meta Platforms Inc stock is held by 4,716 institutions, with Vanguard Group Inc being the largest institutional investor. By Sep 29, 2023, it held 8.26% of the shares, which is about 183.24 million shares worth $55.01 billion.
Blackrock Inc., with 7.03% or 155.97 million shares worth $46.82 billion as of Sep 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 69.2 million shares worth $20.78 billion, making up 3.12% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 53.41 million shares worth around $16.03 billion, which represents about 2.41% of the total shares outstanding.
