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

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $629.56, for a total value of $260,008.28. Following the completion of the transaction, the chief operating officer now owns 18,340 shares of the company’s stock, valued at $11,546,130.40. This represents a 2.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 9th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $623.50, for a total value of $257,505.50.
• On Monday, December 2nd, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $577.49, for a total transaction of $238,503.37.
• On Monday, November 25th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01.
• On Monday, November 18th, Javier Olivan sold 620 shares of Meta Platforms stock. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00.
• On Friday, November 15th, Javier Olivan sold 4,891 shares of Meta Platforms stock. The shares were sold at an average price of $577.16, for a total transaction of $2,822,889.56.
• 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 transaction of $241,534.79.
• On Friday, October 4th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $583.73, for a total transaction of $241,080.49.

Meta Platforms Trading Down 3.6 %

NASDAQ META opened at $597.19 on Thursday. Meta Platforms, Inc. has a 12 month low of $340.01 and a 12 month high of $638.40. The company’s 50-day moving average price is $585.42 and its 200-day moving average price is $540.85. The stock has a market cap of $1.51 trillion, a PE ratio of 28.13, a PEG ratio of 1.39 and a beta of 1.20. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping 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 net margin of 35.55% and a return on equity of 35.60%. Equities research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on META. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. UBS Group upped their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Piper Sandler boosted their price objective on Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.00.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the period. Cutter & CO Brokerage Inc. boosted its stake in shares of Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after purchasing an additional 65 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Meta Platforms by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after buying an additional 5,594 shares during the period. Finally, M&G PLC increased its holdings in Meta Platforms by 14.6% during the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock valued at $412,606,000 after buying an additional 91,773 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

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.