Meta Platforms, Inc. (NASDAQ:META) COO Sells $221,747.96 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, August 15th, Javier Olivan sold 4,900 shares of Meta Platforms stock. The stock was sold at an average price of $526.76, for a total value of $2,581,124.00.
• On Thursday, August 1st, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $521.48, for a total value of $214,849.76.
• On Thursday, July 25th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $463.00, for a total value of $190,756.00.
• On Thursday, July 18th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $474.86, for a total value of $195,642.32.
• On Thursday, July 11th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $530.81, for a total value of $218,693.72.
• On Friday, July 5th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $512.00, for a total value of $210,944.00.
• On Thursday, June 27th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $514.41, for a total value of $211,936.92.
• On Thursday, June 20th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were 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 shares were 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 shares were sold at an average price of $492.98, for a total value of $203,107.76.

Meta Platforms Trading Down 0.4 %

Shares of META stock opened at $519.10 on Wednesday. The stock has a 50-day simple moving average of $503.64 and a 200 day simple moving average of $492.02. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 29.82, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the business posted $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds have recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of Meta Platforms during the second quarter valued at $1,963,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Meta Platforms during the second quarter valued at $5,083,000. 3Chopt Investment Partners LLC lifted its holdings in shares of Meta Platforms by 35.4% during the second quarter. 3Chopt Investment Partners LLC now owns 12,378 shares of the social networking company’s stock valued at $6,241,000 after purchasing an additional 3,239 shares during the last quarter. Heartland Bank & Trust Co lifted its holdings in shares of Meta Platforms by 1.2% during the second quarter. Heartland Bank & Trust Co now owns 6,500 shares of the social networking company’s stock valued at $3,277,000 after purchasing an additional 75 shares during the last quarter. Finally, SPC Financial Inc. lifted its holdings in shares of Meta Platforms by 2.3% during the second quarter. SPC Financial Inc. now owns 1,077 shares of the social networking company’s stock valued at $543,000 after purchasing an additional 24 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on META shares. Rosenblatt Securities upped their price target on Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their price target on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Wednesday, July 24th. Robert W. Baird upped their price target on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Truist Financial increased their target price on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

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.