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 Meta Platforms 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 transaction, the chief operating officer directly owned 7,336 shares of the company's stock, valued at $5,263,653.36. The trade was a 6.58% decrease in their position. The transaction 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 transaction of $353,353.99.
• On Monday, June 16th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $699.27, for a total transaction 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 transaction of $360,866.00.
• On Monday, June 2nd, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was sold at an average price of $644.93, for a total transaction 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 transaction 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 transaction 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 transaction of $383,800.00.
• On Monday, May 5th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $592.00, for a total transaction of $359,936.00.

Meta Platforms Trading Down 1.3%

Shares of META stock traded down $9.73 during trading hours on Friday, hitting $717.51. The company had a trading volume of 10,855,962 shares, compared to its average volume of 14,460,014. The company's fifty day moving average is $674.77 and its 200 day moving average is $634.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The stock has a market capitalization of $1.80 trillion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 analyst estimates 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 prior year, the business earned $4.71 EPS. Research analysts expect 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 was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Institutional Investors Weigh In On Meta Platforms

Hedge funds have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC increased its position in shares of Meta Platforms by 608,429.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company's stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $19,949,512,000. GAMMA Investing LLC increased its position in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $2,990,544,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $2,243,603,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. Loop Capital boosted their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Piper Sandler reaffirmed an "overweight" rating and set a $808.00 price objective (up previously from $650.00) on shares of Meta Platforms in a research note on Friday, June 27th. The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Raymond James Financial dropped their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $729.38.

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.