Meta Share Price Soars to Record Thanks to First-ever Dividend

<img src="https://images.unsplash.com/photo-1689439518156-3659596b5c6c?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wxMTc3M3wwfDF8c2VhcmNofDIyfHxtZXRhfGVufDB8fHx8MTcwNjgyNDYwMHww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=2000" alt="Meta Share Price Soars to Record Thanks to First-ever Dividend" /><p>After the close of yesterday&apos;s trading session, the social media giant reported activity for the 4th quarter of 2023. The actual numbers exceeded expectations:</p><p>&#x2192; gross income: actual = USD 40.1 billion (expected = USD 39.1 billion);<br>&#x2192; earnings per share: actual = USD 5.3 (expected = USD 4.8).</p><p>Zuckerberg&apos;s company also announced a USD 50 billion share buyback and, most importantly, the decision to pay dividends for the first time!</p><p>As a result, META&apos;s share price soared approximately +15% to record highs. In the post-market, the META price exceeded USD 450 &#x2014; this value may be a guideline for the opening of today&apos;s trading.</p><figure><img src="https://fxopen.com/blog/en/content/images/2024/02/21–2-.png" alt="Meta Share Price Soars to Record Thanks to First-ever Dividend" loading="lazy" width="2000" height="1099" srcset="https://fxopen.com/blog/en/content/images/size/w600/2024/02/21–2-.png 600w, https://fxopen.com/blog/en/content/images/size/w1000/2024/02/21–2-.png 1000w, https://fxopen.com/blog/en/content/images/size/w1600/2024/02/21–2-.png 1600w, https://fxopen.com/blog/en/content/images/size/w2400/2024/02/21–2-.png 2400w" sizes="(min-width: 720px) 720px" /></figure><p>The META stock chart today shows that the price has broken out of the ascending channel within which it has been since May last year.</p><p>If widespread optimism about the company&apos;s progress continues, META&apos;s stock price could maintain its bullish momentum and rise closer to the blue line (drawn on the chart as a parallel channel) and the psychological USD 500 mark.</p><p>On the other hand, indicators will show that the market is overbought and some investors will probably take advantage of the temptation to take profits after the price soars – this will create the preconditions for the formation of a pullback.</p><p>The wide bullish gap that is likely to form at the opening of today&apos;s session could serve as an area of support for the META share price in the future – note that the price has not yet fallen into the May 2023 gap area.</p><p>In any case, fundamentally, META looks strong and could be considered a candidate for a long-term investment portfolio (if you don&apos;t already have it there).</p>