Meta Platforms, Inc. (NASDAQ:META) COO Sells $2,822,889.56 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 4,891 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,822,889.56. Following the sale, the chief operating officer now directly owns 15,593 shares of the company’s stock, valued at $8,999,655.88. This represents a 23.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, November 18th, Javier Olivan sold 620 shares of Meta Platforms stock. The shares were sold at an average price of $557.00, for a total transaction of $345,340.00.
• On Friday, November 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $567.58, for a total value of $234,410.54.
• On Friday, October 25th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $574.16, for a total value of $237,128.08.
• On Friday, October 18th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $580.65, for a total value of $239,808.45.
• On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $584.83, for a total value of $241,534.79.
• On Friday, October 4th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $583.73, for a total transaction of $241,080.49.
• On Friday, September 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $570.00, for a total value of $235,410.00.
• On Friday, September 20th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $560.00, for a total transaction of $231,280.00.
• On Friday, September 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $520.57, for a total value of $214,995.41.
• On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $522.00, for a total value of $215,586.00.

Meta Platforms Price Performance

META stock opened at $563.09 on Friday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.42 trillion, a P/E ratio of 26.52, a PEG ratio of 1.24 and a beta of 1.22. The business has a 50 day simple moving average of $572.05 and a 200-day simple moving average of $523.31.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analyst Weigh In

META has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Tigress Financial boosted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Institutional Trading of Meta Platforms

A number of institutional investors have recently added to or reduced their stakes in META. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Empowered Funds LLC increased its position in Meta Platforms by 22.4% during the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after purchasing an additional 12,301 shares in the last quarter. Cypress Asset Management Inc. TX raised its stake in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after purchasing an additional 3,224 shares during the last quarter. Northern Capital Management Inc. lifted its holdings in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares in the last quarter. Finally, Catalytic Wealth RIA LLC boosted its stake in shares of Meta Platforms by 24.3% during the 1st quarter. Catalytic Wealth RIA LLC now owns 7,131 shares of the social networking company’s stock worth $3,463,000 after purchasing an additional 1,396 shares during the last quarter. Hedge funds and other 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.