Meta Platforms, Inc. (NASDAQ:META) CEO Sells $1,007,350.12 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) CEO Mark Zuckerberg sold 2,011 shares of the firm's stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, April 1st, Mark Zuckerberg sold 31,465 shares of Meta Platforms stock. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85.
• On Monday, March 25th, Mark Zuckerberg sold 77,412 shares of Meta Platforms stock. The stock was sold at an average price of $504.82, for a total transaction of $39,079,125.84.
• On Wednesday, March 27th, Mark Zuckerberg sold 31,493 shares of Meta Platforms stock. The stock was sold at an average price of $492.14, for a total transaction of $15,498,965.02.
• On Friday, March 22nd, Mark Zuckerberg sold 77,412 shares of Meta Platforms stock. The shares were sold at an average price of $506.92, for a total transaction of $39,241,691.04.
• On Monday, March 18th, Mark Zuckerberg sold 31,493 shares of Meta Platforms stock. The stock was sold at an average price of $492.37, for a total value of $15,506,208.41.
• On Wednesday, March 20th, Mark Zuckerberg sold 31,493 shares of Meta Platforms stock. The stock was sold at an average price of $500.32, for a total value of $15,756,577.76.
• On Friday, March 15th, Mark Zuckerberg sold 77,412 shares of Meta Platforms stock. The shares were sold at an average price of $485.11, for a total value of $37,553,335.32.
• On Wednesday, March 13th, Mark Zuckerberg sold 77,412 shares of Meta Platforms stock. The shares were sold at an average price of $495.66, for a total transaction of $38,370,031.92.

Meta Platforms Stock Up 2.0 %

Shares of META traded up $9.64 during mid-day trading on Monday, hitting $502.60. The company's stock had a trading volume of 11,221,045 shares, compared to its average volume of 16,914,746. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company's 50-day moving average is $480.74 and its 200-day moving average is $438.24. Meta Platforms, Inc. has a 52-week low of $265.33 and a 52-week high of $531.49. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.28 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts' consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms's payout ratio is 11.49%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on META shares. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $609.00 to $600.00 and set an "overweight" rating for the company in a research report on Wednesday, April 3rd. Sanford C. Bernstein cut their price objective on Meta Platforms from $590.00 to $565.00 and set an "outperform" rating for the company in a research report on Thursday, April 25th. Truist Financial decreased their target price on Meta Platforms from $550.00 to $535.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on Meta Platforms from $540.00 to $500.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Finally, TD Cowen lowered their target price on Meta Platforms from $590.00 to $530.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $510.41.

Hedge Funds Weigh In On Meta Platforms

A number of large investors have recently made changes to their positions in the business. S.A. Mason LLC raised its stake in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company's stock valued at $645,000 after buying an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN boosted its stake in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company's stock worth $513,000 after purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. grew its position in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company's stock worth $314,000 after purchasing an additional 21 shares during the last quarter. Hanson & Doremus Investment Management increased its stake in Meta Platforms by 5.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company's stock valued at $211,000 after purchasing an additional 22 shares in the last quarter. Finally, LongView Wealth Management raised its holdings in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company's stock worth $856,000 after buying an additional 22 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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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