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 that occurred on Monday, December 9th. The stock was sold at an average price of $623.50, for a total value of $257,505.50. Following the sale, the chief operating officer now owns 18,753 shares of the company’s stock, valued at approximately $11,692,495.50. This trade represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• 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 value 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 value of $232,424.01.
• 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 value of $345,340.00.
• On Friday, November 15th, Javier Olivan sold 4,891 shares of Meta Platforms stock. The stock was sold at an average price of $577.16, for a total value of $2,822,889.56.
• On Friday, November 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were 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 shares were 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 shares were 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 stock was sold at an average price of $583.73, for a total value 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.

Meta Platforms Trading Up 2.2 %

Shares of META traded up $13.36 on Wednesday, reaching $632.68. 10,822,631 shares of the company’s stock were exchanged, compared to its average volume of 14,799,382. 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 stock has a market capitalization of $1.60 trillion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. The business has a 50 day moving average price of $581.32 and a two-hundred day moving average price of $535.09. Meta Platforms, Inc. has a 12 month low of $324.56 and a 12 month high of $638.40.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s payout ratio is 9.42%.

Hedge Funds Weigh In On Meta Platforms

Institutional investors and hedge funds have recently bought and sold shares of the company. JDM Financial Group LLC bought a new position in shares of Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the third quarter worth $36,000. POM Investment Strategies LLC bought a new stake in Meta Platforms during the second quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the third quarter worth about $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler lifted their target price on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company cut their price objective on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, TD Cowen upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $635.20.

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.