Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan Sells 517 Shares

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $644.93, for a total value of $333,428.81. Following the completion of the sale, the chief operating officer now owns 9,921 shares in the company, valued at approximately $6,398,350.53. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, May 27th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $635.41, for a total value of $328,506.97.
• On Monday, May 19th, Javier Olivan sold 517 shares of Meta Platforms stock. The shares were sold at an average price of $628.25, for a total value of $324,805.25.
• On Thursday, May 15th, Javier Olivan sold 2,615 shares of Meta Platforms stock. The stock was sold at an average price of $659.36, for a total value of $1,724,226.40.
• On Monday, May 12th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $631.25, for a total value of $383,800.00.
• On Monday, May 5th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $592.00, for a total value of $359,936.00.
• On Monday, April 28th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $555.54, for a total transaction of $337,768.32.
• On Monday, April 21st, Javier Olivan sold 406 shares of Meta Platforms stock. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14.
• On Monday, April 14th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $556.45, for a total value of $338,321.60.
• On Monday, April 7th, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $488.18, for a total value of $296,813.44.
• On Monday, March 31st, Javier Olivan sold 608 shares of Meta Platforms stock. The shares were sold at an average price of $563.03, for a total value of $342,322.24.

Meta Platforms Trading Up 3.2%

META opened at $687.95 on Thursday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a 50-day moving average of $583.27 and a 200 day moving average of $613.00. The firm has a market cap of $1.73 trillion, a P/E ratio of 28.76, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James dropped their target price on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 1st. TD Securities lowered their price objective on Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald raised their price objective on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. KeyCorp raised their price objective on Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Finally, Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $702.48.

Hedge Funds Weigh In On Meta Platforms

A number of large investors have recently made changes to their positions in META. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the first quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms during the first quarter valued at $33,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $40,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $43,000. 79.91% of the stock is owned by institutional investors and hedge funds.

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.