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

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on 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 approximately $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The sale 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 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 transaction of $260,008.28.
• 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 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 stock was 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 transaction 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 stock was sold at an average price of $580.65, for a total transaction of $239,808.45.

Meta Platforms Price Performance

META stock opened at $599.24 on Friday. The business’s 50-day moving average is $588.62 and its two-hundred day moving average is $547.83. 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 firm has a market capitalization of $1.51 trillion, a P/E ratio of 28.23, a P/E/G ratio of 1.39 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $343.17 and a 1 year high of $638.40.

Meta Platforms (NASDAQ:META) last issued its 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 firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. KeyCorp boosted their price objective on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. TD Cowen increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Guggenheim raised their price target 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $640.20.

Institutional Trading of Meta Platforms

A number of hedge funds and other institutional investors have recently bought and sold shares of META. Lindenwold Advisors INC increased its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares during the last quarter. Central Valley Advisors LLC increased its stake in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. boosted its holdings in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after buying an additional 18 shares in the last quarter. 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.