Meta Platforms, Inc. (NASDAQ:META) COO Sells $373,901.76 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at $4,205,164.86. This trade represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 17th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $607.50, for a total transaction of $369,360.00.
• On Monday, March 10th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $609.00, for a total value of $370,272.00.
• On Monday, March 3rd, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $673.96, for a total value of $409,767.68.
• On Monday, February 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $686.28, for a total value of $417,258.24.
• On Tuesday, February 18th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $736.07, for a total value of $447,530.56.
• On Saturday, February 15th, Javier Olivan sold 4,706 shares of Meta Platforms stock. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02.
• On Monday, February 3rd, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $676.00, for a total transaction of $279,188.00.
• On Monday, January 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $627.59, for a total value of $259,194.67.
• On Tuesday, January 21st, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $618.00, for a total value of $255,234.00.
• On Monday, January 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $606.77, for a total value of $250,596.01.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $610.98 on Thursday. The business’s 50-day simple moving average is $656.12 and its 200-day simple moving average is $608.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The firm has a market cap of $1.55 trillion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the business earned $5.33 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Hedge Funds Weigh In On Meta Platforms

Several large investors have recently made changes to their positions in the business. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the 3rd quarter worth $36,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth about $40,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $41,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on META. Raymond James reaffirmed a “strong-buy” rating and issued a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Oppenheimer boosted their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research upped their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Cantor Fitzgerald lifted their price target on Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $718.31.

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.