Meta Platforms, Inc. (NASDAQ:META) CEO Sells $9,670,686.09 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the sale, the chief executive officer now owns 118,279 shares in the company, valued at $82,928,955.27. This trade represents a 10.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mark Zuckerberg also recently made the following trade(s):

• On Monday, June 9th, Mark Zuckerberg sold 7,466 shares of Meta Platforms stock. The stock was sold at an average price of $701.25, for a total value of $5,235,532.50.
• On Wednesday, June 11th, Mark Zuckerberg sold 7,802 shares of Meta Platforms stock. The stock was sold at an average price of $701.96, for a total value of $5,476,691.92.
• On Friday, June 6th, Mark Zuckerberg sold 1,462 shares of Meta Platforms stock. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06.

Meta Platforms Stock Down 0.1%

META stock traded down $0.78 during midday trading on Thursday, hitting $693.36. The company's stock had a trading volume of 7,303,916 shares, compared to its average volume of 14,493,692. The company has a market cap of $1.74 trillion, a PE ratio of 28.99, a P/E/G ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average is $597.08 and its 200-day moving average is $617.62.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The business 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 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.71 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Guggenheim increased their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Wedbush increased their price target on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. TD Securities reduced their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Truist Financial increased their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Bank of America raised their price target on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday. One investment 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $704.26.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms during the 1st quarter valued at $33,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at $40,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the 4th quarter valued at $43,000. 79.91% of the stock is owned by institutional investors.

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.