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 company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $623.50, for a total transaction of $257,505.50. Following the completion of the sale, the chief operating officer now directly owns 18,753 shares of the company’s stock, valued at $11,692,495.50. The trade was a 2.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, December 2nd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $577.49, for a total value 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 stock was 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 shares were 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 transaction 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 stock was sold at an average price of $583.73, for a total transaction 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.

Meta Platforms Stock Performance

NASDAQ META opened at $630.79 on Friday. The firm’s 50 day simple moving average is $583.48 and its 200 day simple moving average is $536.44. The firm has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 1.37 and a beta of 1.20. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1 year low of $328.64 and a 1 year high of $638.40.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during 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, research analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Hedge Funds Weigh In On Meta Platforms

Several large investors have recently bought and sold shares of the company. JDM Financial Group LLC bought a new stake in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the third quarter valued at $36,000. POM Investment Strategies LLC bought a new position in Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. bought a new position in Meta Platforms during the 3rd quarter worth approximately $46,000. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on META. Tigress Financial raised their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial boosted their price objective on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $635.20.

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.