Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 608 Shares

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $673.96, for a total transaction of $409,767.68. Following the completion of the sale, the chief operating officer now owns 8,662 shares in the company, valued at approximately $5,837,841.52. This represents a 6.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, February 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $686.28, for a total transaction of $417,258.24.
• On Tuesday, February 18th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $736.07, for a total value of $447,530.56.
• On Saturday, February 15th, Javier Olivan sold 4,706 shares of Meta Platforms stock. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02.
• On Monday, February 3rd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $676.00, for a total transaction of $279,188.00.
• On Monday, January 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $627.59, for a total transaction of $259,194.67.
• On Tuesday, January 21st, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $618.00, for a total transaction of $255,234.00.
• On Monday, January 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $606.77, for a total transaction of $250,596.01.
• On Monday, January 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $612.10, for a total transaction of $252,797.30.
• On Monday, December 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08.
• On Monday, December 23rd, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $590.00, for a total transaction of $243,670.00.

Meta Platforms Stock Up 2.6 %

Shares of Meta Platforms stock opened at $656.47 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $1.66 trillion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The business has a 50-day moving average of $655.90 and a two-hundred day moving average of $599.11. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the business posted $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.32%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analysts Set New Price Targets

A number of analysts have weighed in on META shares. Scotiabank raised their price target on Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Jefferies Financial Group raised their price objective on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a report on Monday, January 6th. KeyCorp boosted their target price on Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Oppenheimer raised their price target on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley boosted their price objective on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $719.26.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JDM Financial Group LLC purchased a new stake in Meta Platforms during the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $36,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. Avondale Wealth Management bought a new stake in Meta Platforms in the fourth quarter worth $41,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $43,000. 79.91% of the stock is owned by institutional investors.

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.