Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 608 Shares

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $609.00, for a total value of $370,272.00. Following the completion of the sale, the chief operating officer now directly owns 8,054 shares of the company’s stock, valued at $4,904,886. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 3rd, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $673.96, for a total value of $409,767.68.
• On Monday, February 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $686.28, for a total transaction of $417,258.24.
• On Tuesday, February 18th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $736.07, for a total transaction of $447,530.56.
• On Saturday, February 15th, Javier Olivan sold 4,706 shares of Meta Platforms stock. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02.
• On Monday, February 3rd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $676.00, for a total value of $279,188.00.
• On Monday, January 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $627.59, for a total value of $259,194.67.
• On Tuesday, January 21st, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $618.00, for a total value of $255,234.00.
• On Monday, January 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $606.77, for a total transaction of $250,596.01.
• On Monday, January 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $612.10, for a total transaction of $252,797.30.
• On Monday, December 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08.

Meta Platforms Stock Up 2.9 %

Shares of NASDAQ:META opened at $607.60 on Friday. The company has a 50 day moving average of $658.01 and a two-hundred day moving average of $602.61. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the business posted $5.33 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 8.78%.

Institutional Investors Weigh In On Meta Platforms

A number of hedge funds have recently bought and sold shares of the business. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms during the 3rd quarter worth $36,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $41,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Morgan Stanley increased their target price on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Mizuho boosted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $719.26.

Meta Platforms Company Profile

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.