Meta Platforms, Inc. (NASDAQ:META) COO Sells $221,747.96 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 413 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the sale, the chief operating officer now directly owns 14,424 shares of the company's stock, valued at approximately $7,744,534.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, August 15th, Javier Olivan sold 4,900 shares of Meta Platforms stock. The stock was sold at an average price of $526.76, for a total transaction of $2,581,124.00.
• On Thursday, August 1st, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76.
• On Thursday, July 25th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00.
• On Thursday, July 18th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $474.86, for a total transaction of $195,642.32.
• On Thursday, July 11th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $530.81, for a total transaction of $218,693.72.
• On Friday, July 5th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $512.00, for a total transaction of $210,944.00.
• On Thursday, June 27th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $514.41, for a total transaction of $211,936.92.
• On Thursday, June 20th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00.
• On Thursday, June 13th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $505.75, for a total transaction of $208,369.00.
• On Thursday, June 6th, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $492.98, for a total transaction of $203,107.76.

Meta Platforms Stock Performance

META traded down $2.02 on Tuesday, reaching $519.10. The company had a trading volume of 6,268,840 shares, compared to its average volume of 16,121,018. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The stock has a market cap of $1.32 trillion, a P/E ratio of 30.01, a P/E/G ratio of 1.27 and a beta of 1.21. The company's fifty day moving average is $503.25 and its 200 day moving average is $491.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the business earned $3.23 EPS. Meta Platforms's quarterly revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms's payout ratio is presently 11.49%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock worth $33,000 after acquiring an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Finally, Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on META. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an "outperform" rating and a $620.00 price target on the stock. Robert W. Baird lifted their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $480.00 to $610.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $574.41.

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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