Meta Platforms, Inc. (NASDAQ:META) CEO Sells $1,691,609.28 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, July 1st, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $723.89, for a total value of $9,984,614.77.
• On Friday, June 27th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $730.47, for a total value of $10,075,372.71.
• On Wednesday, June 25th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The shares were sold at an average price of $710.24, for a total value of $9,796,340.32.
• On Friday, June 20th, Mark Zuckerberg sold 500 shares of Meta Platforms stock. The stock was sold at an average price of $700.38, for a total value of $350,190.00.
• On Monday, June 16th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $702.06, for a total value of $9,683,513.58.
• On Tuesday, June 17th, Mark Zuckerberg sold 8,312 shares of Meta Platforms stock. The stock was sold at an average price of $702.13, for a total transaction of $5,836,104.56.
• On Wednesday, June 18th, Mark Zuckerberg sold 2,753 shares of Meta Platforms stock. The shares were sold at an average price of $700.43, for a total transaction of $1,928,283.79.
• 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 Tuesday, June 10th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09.
• 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 transaction of $5,476,691.92.

Meta Platforms Stock Performance

NASDAQ:META traded down $5.65 during trading hours on Wednesday, reaching $713.57. 9,315,187 shares of the company's stock were exchanged, compared to its average volume of 14,561,669. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.77 and a beta of 1.28. The company has a 50-day moving average of $651.82 and a 200 day moving average of $628.50. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter last year, the business earned $4.71 EPS. The business's revenue was up 16.1% on a year-over-year basis. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on META shares. Roth Capital upped their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group lowered their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, JMP Securities reissued a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $719.29.

Hedge Funds Weigh In On Meta Platforms

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

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