Meta Platforms, Inc. (NASDAQ:META) COO Sells $211,936.92 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $514.41, for a total value of $211,936.92. Following the sale, the chief operating officer now directly owns 7,207 shares in the company, valued at approximately $3,707,352.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Javier Olivan also recently made the following trade(s):

• On Thursday, June 20th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $502.00, for a total value of $206,824.00.
• On Thursday, June 13th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $505.75, for a total value of $208,369.00.
• On Thursday, June 6th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $492.98, for a total value of $203,107.76.
• On Thursday, May 30th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $471.67, for a total value of $194,328.04.
• On Thursday, May 23rd, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $472.70, for a total value of $194,752.40.
• On Wednesday, May 15th, Javier Olivan sold 4,911 shares of Meta Platforms stock. The shares were sold at an average price of $471.85, for a total value of $2,317,255.35.
• On Friday, May 3rd, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $445.93, for a total value of $218,505.70.
• On Friday, April 26th, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $441.54, for a total value of $216,354.60.
• On Friday, April 19th, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $501.18, for a total value of $245,578.20.
• On Friday, April 12th, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $517.75, for a total value of $253,697.50.

Meta Platforms Stock Up 0.1 %

META stock traded up $0.46 during mid-day trading on Monday, reaching $504.68. 10,320,893 shares of the company traded hands, compared to its average volume of 16,395,848. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49. The firm’s 50 day moving average price is $480.00 and its 200 day moving average price is $455.62.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities research analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Stifel Nicolaus increased their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and set a $550.00 target price on shares of Meta Platforms in a research report on Monday, April 22nd. UBS Group lowered their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Canaccord Genuity Group lowered their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $511.27.

Hedge Funds Weigh In On Meta Platforms

Hedge funds have recently modified their holdings of the company. Beaird Harris Wealth Management LLC lifted its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Institutional investors own 79.91% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.