Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells $260,008.28 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $629.56, for a total value of $260,008.28. Following the transaction, the chief operating officer now owns 18,340 shares of the company’s stock, valued at approximately $11,546,130.40. The trade was a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $623.50, for a total transaction of $257,505.50.
• On Monday, December 2nd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was 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 stock was 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 shares were 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 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 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 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.

Meta Platforms Stock Down 1.7 %

META opened at $585.25 on Friday. The company has a fifty day moving average of $585.56 and a two-hundred day moving average of $541.98. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 27.57, a PEG ratio of 1.39 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $340.01 and a fifty-two week high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced 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. The firm had revenue of $40.59 billion during 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%. On average, research analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm 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 of this dividend is Monday, December 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 9.42%.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors have recently added to or reduced their stakes in META. Geode Capital Management LLC grew its position in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the period. Jennison Associates LLC raised its position in shares of Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after buying an additional 208,677 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Susquehanna raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $638.00.

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.