Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg Sells 16,702 Shares

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $503.08, for a total transaction of $8,402,442.16. Following the completion of the sale, the chief executive officer now owns 204,280 shares in the company, valued at approximately $102,769,182.40. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Mark Zuckerberg also recently made the following trade(s):

• On Wednesday, July 3rd, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $509.10, for a total transaction of $8,502,988.20.
• On Friday, June 28th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The shares were sold at an average price of $514.96, for a total transaction of $8,600,861.92.
• On Monday, June 24th, Mark Zuckerberg sold 9,760 shares of Meta Platforms stock. The stock was sold at an average price of $502.87, for a total transaction of $4,908,011.20.
• On Wednesday, June 26th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76.
• On Friday, June 21st, Mark Zuckerberg sold 2,054 shares of Meta Platforms stock. The stock was sold at an average price of $501.05, for a total transaction of $1,029,156.70.
• On Friday, June 14th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $503.34, for a total transaction of $8,406,784.68.
• On Tuesday, June 11th, Mark Zuckerberg sold 16,702 shares of Meta Platforms stock. The stock was sold at an average price of $503.18, for a total transaction of $8,404,112.36.
• On Thursday, June 6th, Mark Zuckerberg sold 2,011 shares of Meta Platforms stock. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12.

Meta Platforms Stock Up 0.1 %

Shares of NASDAQ:META opened at $509.96 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market cap of $1.29 trillion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The firm has a 50 day simple moving average of $482.42 and a 200 day simple moving average of $458.78.

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

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on META shares. KeyCorp upped their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Canaccord Genuity Group decreased their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. UBS Group decreased their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Roth Mkm upped their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Wolfe Research decreased their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $511.27.

Institutional Investors Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC lifted its position in Meta Platforms by 68.9% in 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 purchased a new stake in Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC lifted its position in 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 buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.