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 dated Friday, September 27th. The stock was sold at an average price of $570.00, for a total transaction of $235,410.00. Following the sale, the chief operating officer now owns 12,359 shares in the company, valued at $7,044,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value 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 stock was sold at an average price of $522.00, for a total value of $215,586.00.
• On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was 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 stock was sold at an average price of $536.92, for a total value 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.
• On Thursday, August 1st, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76.
• On Thursday, July 25th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00.
• On Thursday, July 18th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $474.86, for a total value of $195,642.32.
• On Thursday, July 11th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $530.81, for a total value of $218,693.72.

Meta Platforms Stock Up 0.7 %

NASDAQ:META traded up $4.03 on Tuesday, hitting $576.47. 15,241,992 shares of the company’s stock were exchanged, compared to its average volume of 15,599,185. The company has a market cap of $1.46 trillion, a P/E ratio of 33.11, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The firm has a 50-day moving average price of $519.65 and a 200-day moving average price of $500.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $583.04.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping 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 return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.23 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

META has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Truist Financial raised their target price on Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Securities upped their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $597.95.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors have recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC increased its stake 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 worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Meta Platforms in the 1st quarter valued at about $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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.