Meta Platforms, Inc. (NASDAQ:META) COO Sells $248,430.00 in Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $507.00, for a total transaction of $248,430.00. Following the completion of the transaction, the chief operating officer now directly owns 9,049 shares of the company’s stock, valued at approximately $4,587,843. The sale 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, March 15th, Javier Olivan sold 490 shares of Meta Platforms stock. The shares were sold at an average price of $488.25, for a total transaction of $239,242.50.
• On Friday, March 8th, Javier Olivan sold 490 shares of Meta Platforms stock. The stock was sold at an average price of $513.32, for a total transaction of $251,526.80.
• On Friday, March 1st, Javier Olivan sold 490 shares of Meta Platforms stock. The stock was sold at an average price of $492.13, for a total transaction of $241,143.70.
• On Friday, February 23rd, Javier Olivan sold 490 shares of Meta Platforms stock. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70.
• On Thursday, February 15th, Javier Olivan sold 7,556 shares of Meta Platforms stock. The stock was sold at an average price of $473.28, for a total transaction of $3,576,103.68.
• On Monday, January 29th, Javier Olivan sold 6,500 shares of Meta Platforms stock. The shares were sold at an average price of $400.00, for a total transaction of $2,600,000.00.
• On Wednesday, January 24th, Javier Olivan sold 4,500 shares of Meta Platforms stock. The shares were sold at an average price of $395.00, for a total transaction of $1,777,500.00.
• On Monday, January 22nd, Javier Olivan sold 9,000 shares of Meta Platforms stock. The shares were sold at an average price of $388.90, for a total transaction of $3,500,100.00.

Meta Platforms Trading Down 1.7 %

NASDAQ:META opened at $485.58 on Friday. Meta Platforms, Inc. has a 12 month low of $202.54 and a 12 month high of $523.57. The firm has a market cap of $1.24 trillion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 1.28 and a beta of 1.21. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $467.03 and its 200-day moving average is $376.07.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter last year, the firm posted $3.00 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. Meta Platforms’s payout ratio is 13.42%.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Susquehanna lifted their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $405.00 to $527.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Bank of America lifted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Wedbush boosted their price objective on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $496.35.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. grew its stake in shares of Meta Platforms by 16.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 5,683 shares of the social networking company’s stock worth $2,012,000 after acquiring an additional 821 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $15,283,000. Fairman Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $403,000. Ariston Services Group acquired a new stake in shares of Meta Platforms in the fourth quarter worth $207,000. Finally, Warren Street Wealth Advisors LLC grew its stake in shares of Meta Platforms by 4.9% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 2,069 shares of the social networking company’s stock worth $732,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

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.