Javier Olivan Sells 517 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 517 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $644.93, for a total value of $333,428.81. Following the sale, the chief operating officer now owns 9,921 shares of the company's stock, valued at approximately $6,398,350.53. This trade represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, May 27th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $635.41, for a total value of $328,506.97.
• On Monday, May 19th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $628.25, for a total value of $324,805.25.
• On Thursday, May 15th, Javier Olivan sold 2,615 shares of Meta Platforms stock. The stock was sold at an average price of $659.36, for a total transaction of $1,724,226.40.
• On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $631.25, for a total value of $383,800.00.
• On Monday, May 5th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $592.00, for a total value of $359,936.00.
• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $555.54, for a total value of $337,768.32.
• On Monday, April 21st, Javier Olivan sold 406 shares of Meta Platforms stock. The shares were sold at an average price of $491.69, for a total value of $199,626.14.
• On Monday, April 14th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $556.45, for a total transaction of $338,321.60.
• On Monday, April 7th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $488.18, for a total value of $296,813.44.
• On Monday, March 31st, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $563.03, for a total value of $342,322.24.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $3.33 during midday trading on Thursday, reaching $684.62. 12,607,647 shares of the company were exchanged, compared to its average volume of 14,508,846. The stock has a market cap of $1.72 trillion, a P/E ratio of 28.62, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock has a fifty day simple moving average of $583.27 and a 200 day simple moving average of $613.00. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Institutional Trading of Meta Platforms

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors raised its holdings in Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Meta Platforms during the 4th quarter worth $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on META shares. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Pivotal Research reduced their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Moffett Nathanson lifted their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $702.48.

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.