Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 620 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 620 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares in the company, valued at $11,135,544. The trade was a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, November 15th, Javier Olivan sold 4,891 shares of Meta Platforms stock. The stock was sold at an average price of $577.16, for a total transaction of $2,822,889.56.
• On Friday, November 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54.
• On Friday, October 25th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08.
• On Friday, October 18th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $580.65, for a total value of $239,808.45.
• On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $584.83, for a total value of $241,534.79.
• On Friday, October 4th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $583.73, for a total transaction of $241,080.49.
• On Friday, September 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $570.00, for a total transaction of $235,410.00.
• On Friday, September 20th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $560.00, for a total value of $231,280.00.
• On Friday, September 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41.
• On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total transaction of $215,586.00.

Meta Platforms Stock Performance

META stock traded up $6.69 during midday trading on Tuesday, reaching $561.09. 9,155,606 shares of the company were exchanged, compared to its average volume of 15,035,363. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The business has a 50-day moving average price of $569.10 and a two-hundred day moving average price of $521.96. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's dividend payout ratio (DPR) is currently 9.42%.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Sanford C. Bernstein raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. Barclays lifted their price target on Meta Platforms from $550.00 to $630.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus price target of $634.10.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently added to or reduced their stakes in the stock. Lindenwold Advisors INC boosted its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock worth $3,388,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC boosted its stake in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its position in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after acquiring an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC raised its stake in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock worth $1,595,000 after acquiring an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. boosted its stake in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock valued at $1,099,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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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