Javier Olivan Sells 413 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $629.56, for a total value of $260,008.28. Following the completion of the sale, the chief operating officer now directly owns 18,340 shares in the company, valued at approximately $11,546,130.40. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, December 9th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $623.50, for a total transaction 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 transaction 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 value 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 value 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 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 transaction of $239,808.45.
• On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $584.83, for a total transaction of $241,534.79.
• On Friday, October 4th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $583.73, for a total value of $241,080.49.

Meta Platforms Stock Down 3.6 %

Meta Platforms stock traded down $22.25 during trading hours on Wednesday, reaching $597.19. The stock had a trading volume of 16,638,428 shares, compared to its average volume of 14,727,131. The company has a market cap of $1.51 trillion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.39 and a beta of 1.20. The business’s 50 day moving average price is $585.29 and its 200-day moving average price is $540.45. Meta Platforms, Inc. has a 52 week low of $340.01 and a 52 week high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be given a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s payout ratio is 9.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SMART Wealth LLC boosted its stake in Meta Platforms by 53.7% in the 3rd quarter. SMART Wealth LLC now owns 1,374 shares of the social networking company’s stock worth $787,000 after purchasing an additional 480 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Meta Platforms by 1.0% during the third quarter. Lord Abbett & CO. LLC now owns 613,015 shares of the social networking company’s stock worth $350,914,000 after buying an additional 6,249 shares during the period. Legacy Wealth Management LLC MS purchased a new stake in shares of Meta Platforms during the third quarter valued at $433,000. SPX Gestao de Recursos Ltda increased its position in shares of Meta Platforms by 33.9% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 13,500 shares of the social networking company’s stock valued at $7,728,000 after acquiring an additional 3,420 shares during the period. Finally, 1ST Source Bank raised its stake in Meta Platforms by 3.4% in the 3rd quarter. 1ST Source Bank now owns 5,280 shares of the social networking company’s stock worth $3,022,000 after acquiring an additional 174 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James reiterated a “strong-buy” rating and set a $675.00 price objective on shares of Meta Platforms in a research report on Monday, November 25th. KeyCorp increased their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” 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 report on Thursday, September 26th. Truist Financial upped their target price on shares of Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Piper Sandler lifted their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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.