Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 413 Shares

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now directly owns 10,707 shares in the company, valued at $6,147,531.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction of $239,808.45.
• On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $584.83, for a total transaction 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 shares were sold at an average price of $570.00, for a total transaction 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 transaction of $214,995.41.
• On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total transaction of $215,586.00.
• On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $521.35, for a total transaction of $215,317.55.
• On Friday, August 23rd, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96.
• 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.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $593.28 on Wednesday. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 34.08, a P/E/G ratio of 1.42 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $296.86 and a 1-year high of $602.95. The business has a 50-day moving average price of $553.36 and a two-hundred day moving average price of $511.61.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.23 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on META. BMO Capital Markets raised their price objective on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 9th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Scotiabank began coverage on shares of Meta Platforms in a report on Friday, October 11th. They set a “sector perform” rating and a $585.00 price objective for the company. Finally, Mizuho upped their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $621.63.

Hedge Funds Weigh In On Meta Platforms

Hedge funds have recently added to or reduced their stakes in the stock. Klingenstein Fields & Co. LP grew its position in shares of Meta Platforms by 231.5% during the 3rd quarter. Klingenstein Fields & Co. LP now owns 26,670 shares of the social networking company’s stock worth $15,267,000 after buying an additional 18,624 shares during the period. Wheelhouse Advisory Group LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $208,000. Old North State Wealth Management LLC grew its holdings in Meta Platforms by 11.0% during the third quarter. Old North State Wealth Management LLC now owns 648 shares of the social networking company’s stock valued at $372,000 after purchasing an additional 64 shares during the period. Centennial Bank AR increased its stake in Meta Platforms by 1,000.0% in the third quarter. Centennial Bank AR now owns 550 shares of the social networking company’s stock valued at $315,000 after purchasing an additional 500 shares in the last quarter. Finally, Northeast Investment Management raised its holdings in Meta Platforms by 1.9% in the third quarter. Northeast Investment Management now owns 100,674 shares of the social networking company’s stock worth $57,630,000 after purchasing an additional 1,841 shares during the period. Institutional investors and hedge funds 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.