Meta Platforms, Inc. (NASDAQ:META) COO Sells $243,323.08 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $589.16, for a total value of $243,323.08. Following the transaction, the chief operating officer now owns 17,514 shares of the company’s stock, valued at $10,318,548.24. The trade was a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, December 23rd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $590.00, for a total transaction of $243,670.00.
• On Monday, December 16th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $629.56, for a total value of $260,008.28.
• 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 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 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 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 transaction 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 transaction of $239,808.45.

Meta Platforms Stock Up 0.9 %

META stock opened at $604.63 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company’s 50 day simple moving average is $589.88 and its 200-day simple moving average is $549.21. Meta Platforms, Inc. has a 12 month low of $343.40 and a 12 month high of $638.40. The firm has a market capitalization of $1.53 trillion, a PE ratio of 28.48, a P/E/G ratio of 1.39 and a beta of 1.19.

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, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Equities analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on META shares. Wells Fargo & Company dropped their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Wolfe Research raised their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday. Sanford C. Bernstein increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Bank of America boosted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $642.88.

Institutional Investors Weigh In On Meta Platforms

Hedge funds have recently modified their holdings of the company. Central Pacific Bank Trust Division grew its stake in Meta Platforms by 1.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 13,850 shares of the social networking company’s stock worth $8,109,000 after acquiring an additional 214 shares during the period. First Citizens Financial Corp boosted its holdings in shares of Meta Platforms by 14.3% during the fourth quarter. First Citizens Financial Corp now owns 766 shares of the social networking company’s stock worth $449,000 after purchasing an additional 96 shares during the last quarter. Modus Advisors LLC increased its stake in Meta Platforms by 8.7% in the fourth quarter. Modus Advisors LLC now owns 3,917 shares of the social networking company’s stock valued at $2,293,000 after purchasing an additional 314 shares during the last quarter. Franchise Capital Ltd lifted its position in Meta Platforms by 34.4% during the fourth quarter. Franchise Capital Ltd now owns 44,488 shares of the social networking company’s stock worth $26,048,000 after buying an additional 11,397 shares during the period. Finally, NRI Wealth Management LC acquired a new stake in Meta Platforms in the 4th quarter worth about $594,000. 79.91% of the stock is owned by institutional investors and hedge funds.

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.