Meta Platforms, Inc. (NASDAQ:META) COO Sells $241,534.79 in Stock

Meta Platforms, Inc. (NASDAQ:META - Get Free Report) COO Javier Olivan sold 413 shares of the firm's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $584.83, for a total transaction of $241,534.79. Following the completion of the sale, the chief operating officer now owns 11,533 shares in the company, valued at approximately $6,744,844.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, October 4th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was 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 stock was sold at an average price of $570.00, for a total value 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 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 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.
• On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $521.35, for a total value of $215,317.55.
• On Friday, August 23rd, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $536.92, for a total value of $221,747.96.
• 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 value 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 value of $214,849.76.
• On Thursday, July 25th, Javier Olivan sold 412 shares of Meta Platforms stock. The shares were sold at an average price of $463.00, for a total value of $190,756.00.

Meta Platforms Trading Down 0.7 %

Shares of NASDAQ META traded down $4.15 during trading hours on Tuesday, reaching $586.27. The stock had a trading volume of 9,555,973 shares, compared to its average volume of 15,297,027. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 1.45 and a beta of 1.22. The business's fifty day moving average price is $540.41 and its two-hundred day moving average price is $506.41. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.23 earnings per share. Analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms's dividend payout ratio is currently 11.49%.

Institutional Trading of Meta Platforms

A number of hedge funds have recently bought and sold shares of META. Central Valley Advisors LLC increased its position in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC boosted its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. S.A. Mason LLC lifted its stake in Meta Platforms by 1.5% in the 1st 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 in the last quarter. Front Row Advisors LLC lifted its stake in Meta Platforms by 5.7% in the 2nd quarter. Front Row Advisors LLC now owns 371 shares of the social networking company's stock valued at $187,000 after buying an additional 20 shares in the last quarter. Finally, Merrion Investment Management Co LLC lifted its stake in Meta Platforms by 1.8% in the 3rd quarter. Merrion Investment Management Co LLC now owns 1,145 shares of the social networking company's stock valued at $655,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Susquehanna upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a "positive" rating in a research report on Thursday, August 1st. Pivotal Research assumed coverage on Meta Platforms in a research note on Tuesday, October 1st. They set a "buy" rating and a $780.00 target price for the company. BMO Capital Markets raised their price objective on Meta Platforms from $475.00 to $525.00 and gave the company a "market perform" rating in a research note on Wednesday, October 9th. Wedbush reissued an "outperform" rating and issued a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group raised their target price on Meta Platforms from $555.00 to $636.00 and gave the company a "buy" rating in a report on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $613.46.

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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