Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 4,891 Shares of Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 4,891 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,822,889.56. Following the completion of the sale, the chief operating officer now directly owns 15,593 shares of the company’s stock, valued at approximately $8,999,655.88. The trade was a 23.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 1st, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was 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 stock was sold at an average price of $574.16, for a total transaction of $237,128.08.
• On Friday, October 18th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $580.65, for a total transaction 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.
• 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 value of $241,080.49.
• On Friday, September 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were 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 transaction of $231,280.00.
• On Friday, September 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $520.57, for a total transaction 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 transaction of $215,586.00.

Meta Platforms Stock Performance

Shares of META opened at $561.09 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The stock’s 50-day simple moving average is $570.23 and its 200 day simple moving average is $522.73.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s payout ratio is presently 9.42%.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently bought and sold shares of META. Lindenwold Advisors INC raised its position in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC increased its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings 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 valued at $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. boosted its stake in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of research reports. Bank of America upped their price target on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Susquehanna increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Stifel Nicolaus raised their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Tigress Financial upped their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

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.