Meta Platforms, Inc. (NASDAQ:META) COO Sells $370,952.67 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 517 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $717.51, for a total transaction of $370,952.67. Following the completion of the sale, the chief operating officer owned 7,336 shares in the company, valued at $5,263,653.36. This represents a 6.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 30th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $740.97, for a total transaction of $383,081.49.
• On Monday, June 23rd, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $683.47, for a total value of $353,353.99.
• On Monday, June 16th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $699.27, for a total value of $361,522.59.
• On Monday, June 9th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $698.00, for a total value of $360,866.00.
• On Monday, June 2nd, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $644.93, for a total value of $333,428.81.
• On Tuesday, May 27th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was 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 stock was 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 shares were sold at an average price of $659.36, for a total value of $1,724,226.40.
• On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were 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.

Meta Platforms Stock Down 1.0%

Shares of META stock traded down $7.64 on Thursday, hitting $725.14. The stock had a trading volume of 5,934,233 shares, compared to its average volume of 14,473,369. The business has a 50 day moving average of $669.26 and a 200 day moving average of $632.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market cap of $1.82 trillion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.77 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.71 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Institutional Investors Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently modified their holdings of the stock. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms in the first quarter worth $33,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the fourth quarter worth $40,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter worth $43,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on META shares. Wells Fargo & Company raised their price target on shares of Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a research report on Tuesday. Piper Sandler reissued an "overweight" rating and issued a $808.00 target price (up from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Oppenheimer raised their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Benchmark cut their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $727.95.

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.