Meta Stock: Shares Near Record High Amid Strategic Shifts

Meta's stock demonstrated remarkable momentum on NASDAQ, climbing 1.3% to reach $616.58, hovering close to its 52-week peak of $617.78. This upward trajectory is backed by impressive financial performance, with the company reporting an 18.87% surge in quarterly revenue to $40.59 billion. The earnings per share showed significant improvement, reaching $6.20 compared to the previous year's $4.50, highlighting the company's robust operational efficiency and market position.

Analyst Outlook and Dividend Plans

Market analysts maintain an optimistic stance on Meta's future performance, establishing an average price target of $629.29. The company's financial outlook appears particularly promising for 2024, with projections indicating earnings per share of $22.65. In a significant development for investors, Meta has announced its inaugural dividend program, with expected payments of $2.02 per share for the current year, marking a new phase in the company's shareholder return strategy.