Shares of Meta Platforms gained 0.76% over the past five trading sessions after a prior 5.27% decline, leaving a year-to-date gain of 25.84%. Q2 results showed EPS of $7.14 versus $5.92 expected and revenue of $47.52 billion versus $44.80 billion expected; Q2 ad revenue totaled $46.56 billion, above forecasts. Multiple analysts raised price targets in July and August. The company authorized a $50 billion stock buyback and began paying a dividend with a current yield of 0.27% (about $2.12 annualized). Meta is expanding into artificial intelligence, which is driving bullish longer-term price projections.
This year, META announced - alongside authorizing a $50 billion stock buyback - that shares of META would begin paying a dividend. And while its current yield of 0.27% may not seem like much, at its current price, that equates to 53 cents per share quarterly, or $2.12 per share annualized. As the dominant player in the social media landscape, Meta Platforms is now branching out more broadly into tech, and specifically, the artificial intelligence (AI) space.
When the company reported Q2 earnings on July 30, it announced EPS of $7.14 versus an expected $5.92 and revenue of $47.52 billion versus $44.80 expected. The company's Q2 ad revenue was $46.56 billion, beating Wall Street's forecast of $43.97 billion. Recently, the Mark Zuckerberg-led tech stock has seen a flurry of analyst upgrades. On Aug. 1, Barclays raised its price target to $810 from $640.
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