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

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 608 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $686.28, for a total value of $417,258.24. Following the completion of the sale, the chief operating officer now owns 9,270 shares in the company, valued at approximately $6,361,815.60. This represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 stock was 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 value of $279,188.00.
• On Monday, January 27th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $627.59, for a total value 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 value 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 value of $250,596.01.
• On Monday, January 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $612.10, for a total value 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 value 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 value of $243,670.00.
• On Monday, December 16th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $629.56, for a total value of $260,008.28.

Meta Platforms Stock Performance

Shares of META opened at $658.24 on Friday. The stock has a 50-day simple moving average of $651.52 and a 200-day simple moving average of $595.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $1.67 trillion, a PE ratio of 27.52, a PEG ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the firm posted $5.33 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Institutional Investors Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently made changes to their positions in the business. JDM Financial Group LLC acquired a new position in Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $36,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $40,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $41,000. Finally, WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Monness Crespi & Hardt increased their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wedbush reissued an “outperform” rating and issued a $770.00 price objective (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Monday, January 27th. Citigroup raised their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group raised their target price on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $719.26.

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.