Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 4,891 Shares

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 4,891 shares of Meta Platforms stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,822,889.56. Following the completion of the transaction, the chief operating officer now owns 15,593 shares of the company's stock, valued at approximately $8,999,655.88. This trade represents a 23.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, November 18th, Javier Olivan sold 620 shares of Meta Platforms stock. The stock was sold at an average price of $557.00, for a total value of $345,340.00.
• On Friday, November 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was 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 stock was 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 stock was 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 stock was 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 shares were sold at an average price of $560.00, for a total transaction 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 value of $214,995.41.
• On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $522.00, for a total value of $215,586.00.

Meta Platforms Trading Up 1.2 %

NASDAQ:META traded up $6.69 during trading hours on Tuesday, reaching $561.09. 9,155,606 shares of the company were exchanged, compared to its average volume of 15,035,363. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The stock has a 50 day simple moving average of $569.10 and a 200 day simple moving average of $521.96. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.23 and a beta of 1.22. 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 issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Susquehanna lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a "positive" rating in a report on Thursday, October 31st. Stifel Nicolaus upped their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a "buy" rating in a report on Monday, October 14th. Benchmark reiterated a "hold" rating on shares of Meta Platforms in a research note on Thursday, July 25th. Robert W. Baird increased their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on shares of Meta Platforms from $575.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $634.10.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock valued at $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Capital World Investors lifted its position in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company's stock worth $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital Research Global Investors grew its position in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company's stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company's stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock worth $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. 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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