Insider Selling: Meta Platforms, Inc. (NASDAQ:META) COO Sells 413 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $590.00, for a total transaction of $243,670.00. Following the completion of the transaction, the chief operating officer now directly owns 17,927 shares in the company, valued at $10,576,930. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 16th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $629.56, for a total value of $260,008.28.
• On Monday, December 9th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $623.50, for a total value of $257,505.50.
• On Monday, December 2nd, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $577.49, for a total transaction of $238,503.37.
• On Monday, November 25th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $562.77, for a total value of $232,424.01.
• On Monday, November 18th, Javier Olivan sold 620 shares of Meta Platforms stock. The shares were sold at an average price of $557.00, for a total value of $345,340.00.
• On Friday, November 15th, Javier Olivan sold 4,891 shares of Meta Platforms stock. The stock was sold at an average price of $577.16, for a total transaction of $2,822,889.56.
• On Friday, November 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were 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 shares were sold at an average price of $574.16, for a total value 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.

Meta Platforms Stock Down 0.7 %

Shares of NASDAQ META traded down $4.40 during midday trading on Thursday, hitting $603.35. The stock had a trading volume of 6,069,569 shares, compared to its average volume of 14,774,323. The business’s 50 day moving average is $586.80 and its 200-day moving average is $544.77. Meta Platforms, Inc. has a 52 week low of $340.01 and a 52 week high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.52 trillion, a P/E ratio of 28.42, a PEG ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company 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 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date is Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Institutional Investors Weigh In On Meta Platforms

Hedge funds have recently added to or reduced their stakes in the stock. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the third quarter valued at approximately $36,000. Halpern Financial Inc. purchased a new stake in Meta Platforms during the third quarter valued at approximately $46,000. West Financial Advisors LLC bought a new position in Meta Platforms in the third quarter worth approximately $49,000. Finally, Hoese & Co LLP boosted its stake in shares of Meta Platforms by 2,000.0% during the 3rd quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock worth $60,000 after acquiring an additional 100 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on META shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research report on Wednesday, October 16th. Scotiabank reduced their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. DA Davidson initiated coverage on Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. Wells Fargo & Company lowered their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Jefferies Financial Group increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.00.

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.