Meta Platforms, Inc. (NASDAQ:META) COO Sells $345,340.00 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 620 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $345,340.00. Following the transaction, the chief operating officer now directly owns 19,992 shares of the company’s stock, valued at $11,135,544. This represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, November 15th, Javier Olivan sold 4,891 shares of Meta Platforms stock. The shares were sold at an average price of $577.16, for a total transaction 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 shares were 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 stock was 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 stock was sold at an average price of $583.73, for a total transaction of $241,080.49.
• On Friday, September 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $570.00, for a total transaction of $235,410.00.
• On Friday, September 20th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $560.00, for a total transaction 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 shares were sold at an average price of $522.00, for a total transaction of $215,586.00.

Meta Platforms Trading Down 0.4 %

Shares of META opened at $563.09 on Friday. The stock’s 50-day moving average is $572.05 and its two-hundred day moving average is $523.31. The stock has a market cap of $1.42 trillion, a PE ratio of 26.52, a P/E/G ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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%. Equities analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on META. Evercore ISI raised their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JMP Securities raised their price target on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Robert W. Baird raised their price target on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $634.10.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors have recently added to or reduced their stakes in META. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the third quarter valued at about $36,000. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its holdings 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 valued at $40,000 after buying an additional 44 shares in the last quarter. Finally, Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at about $46,000. 79.91% of the stock is currently 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.