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, July 21st. The shares were sold at an average price of $706.41, for a total transaction of $365,213.97. Following the sale, the chief operating officer owned 6,302 shares in the company, valued at $4,451,795.82. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, July 14th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $717.50, for a total transaction of $370,947.50.
• On Monday, July 7th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $717.51, for a total transaction of $370,952.67.
• 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 stock was 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 stock was 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 stock was 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 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 shares were 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.

Meta Platforms Stock Up 0.2%

Shares of NASDAQ META traded up $1.22 during mid-day trading on Thursday, reaching $714.80. 10,902,089 shares of the company's stock were exchanged, compared to its average volume of 15,506,564. The business has a fifty day simple moving average of $689.62 and a 200 day simple moving average of $640.33. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The firm has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.71 and a beta of 1.28. 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 issued 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 return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the company posted $4.71 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on META. Piper Sandler reissued an "overweight" rating and set a $808.00 price target (up from $650.00) on shares of Meta Platforms in a report on Friday, June 27th. Oppenheimer lifted their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Sanford C. Bernstein lifted their price objective on shares of Meta Platforms from $700.00 to $775.00 and gave the company an "outperform" rating in a report on Tuesday. Evercore ISI boosted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, TD Cowen boosted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $752.33.

Institutional Trading of Meta Platforms

Institutional investors and hedge funds have recently modified their holdings of the business. Lindenwold Advisors INC increased its holdings in Meta Platforms by 1.3% in the 2nd quarter. Lindenwold Advisors INC now owns 4,949 shares of the social networking company's stock worth $3,653,000 after purchasing an additional 65 shares in the last quarter. Cross Staff Investments Inc boosted its position in shares of Meta Platforms by 49.1% during the 2nd quarter. Cross Staff Investments Inc now owns 607 shares of the social networking company's stock valued at $448,000 after purchasing an additional 200 shares in the last quarter. Benson Investment Management Company Inc. boosted its position in shares of Meta Platforms by 7.9% during the 2nd quarter. Benson Investment Management Company Inc. now owns 12,166 shares of the social networking company's stock valued at $8,980,000 after purchasing an additional 886 shares in the last quarter. Trust Co. of Toledo NA OH boosted its holdings in Meta Platforms by 1.0% in the second quarter. Trust Co. of Toledo NA OH now owns 9,228 shares of the social networking company's stock worth $6,811,000 after acquiring an additional 95 shares in the last quarter. Finally, Applied Capital LLC FL boosted its holdings in Meta Platforms by 0.8% in the second quarter. Applied Capital LLC FL now owns 7,483 shares of the social networking company's stock worth $5,523,000 after acquiring an additional 58 shares in the last quarter. 79.91% of the stock is currently 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.