Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 608 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $592.00, for a total value of $359,936.00. Following the completion of the transaction, the chief operating officer now directly owns 3,190 shares in the company, valued at approximately $1,888,480. This represents a 16.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $555.54, for a total transaction 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 shares were sold at an average price of $488.18, for a total transaction of $296,813.44.
• On Monday, March 31st, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $563.03, for a total value of $342,322.24.
• On Monday, March 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $614.97, for a total value of $373,901.76.
• 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 stock was sold at an average price of $609.00, for a total transaction of $370,272.00.
• On Monday, March 3rd, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $673.96, for a total transaction 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.

Meta Platforms Trading Up 1.7 %

META stock traded up $9.83 during trading on Wednesday, hitting $597.14. The company had a trading volume of 13,134,064 shares, compared to its average volume of 14,430,482. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a 50 day simple moving average of $572.38 and a 200-day simple moving average of $604.03. The firm has a market capitalization of $1.51 trillion, a P/E ratio of 24.96, a PEG ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current 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 data 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. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the business posted $4.71 EPS. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors have recently added to or reduced their stakes in META. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Meta Platforms during the 1st quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms during the first quarter worth $33,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the fourth quarter valued at $40,000. Finally, Avondale Wealth Management acquired a new position in shares of Meta Platforms in the fourth quarter worth about $41,000. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. DA Davidson lowered their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company cut their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Wedbush upped their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $696.45.

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.

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