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 firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $699.27, for a total value of $361,522.59. Following the sale, the chief operating officer now directly owns 8,887 shares of the company's stock, valued at approximately $6,214,412.49. This trade represents a 5.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, June 9th, Javier Olivan sold 517 shares of Meta Platforms stock. The stock was 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 transaction of $333,428.81.
• 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 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 shares were 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 stock was sold at an average price of $491.69, for a total transaction 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.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $1.46 on Wednesday, reaching $695.77. 9,635,650 shares of the stock were exchanged, compared to its average volume of 14,501,970. The firm has a market capitalization of $1.75 trillion, a PE ratio of 27.14, a PEG ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The business has a fifty day moving average price of $612.33 and a two-hundred day moving average price of $621.89. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

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 the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 EPS. As a group, research analysts anticipate 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. Shareholders of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Meta Platforms during the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Meta Platforms during the first quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $40,000. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

META has been the topic of a number of research reports. Wells Fargo & Company reiterated an "overweight" rating and set a $664.00 target price on shares of Meta Platforms in a report on Tuesday. Piper Sandler increased their price objective on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Bank of America lifted their target price on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. upped their price target on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, Barclays decreased their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $710.00.

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.

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