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 firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the transaction, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was 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.
• 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.
• On Friday, September 20th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $560.00, for a total value of $231,280.00.
• On Friday, September 13th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $520.57, for a total value of $214,995.41.
• On Friday, September 6th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $522.00, for a total value of $215,586.00.
• On Friday, August 30th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $521.35, for a total value of $215,317.55.
• On Friday, August 23rd, Javier Olivan sold 413 shares of Meta Platforms stock. The stock was sold at an average price of $536.92, for a total value of $221,747.96.
• On Thursday, August 15th, Javier Olivan sold 4,900 shares of Meta Platforms stock. The stock was sold at an average price of $526.76, for a total value of $2,581,124.00.
• On Thursday, August 1st, Javier Olivan sold 412 shares of Meta Platforms stock. The stock was sold at an average price of $521.48, for a total value of $214,849.76.

Meta Platforms Stock Up 0.7 %

META stock opened at $567.78 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The company has a fifty day simple moving average of $549.53 and a 200 day simple moving average of $509.99. The firm has a market cap of $1.44 trillion, a PE ratio of 32.61, a PEG ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.23 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Wealth Investment Group LLC lifted its position in Meta Platforms by 27.3% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 43,270 shares of the social networking company’s stock worth $24,944,000 after acquiring an additional 9,290 shares during the last quarter. Orrstown Financial Services Inc. increased its holdings in shares of Meta Platforms by 184.4% during the 3rd quarter. Orrstown Financial Services Inc. now owns 3,146 shares of the social networking company’s stock worth $1,801,000 after purchasing an additional 2,040 shares during the period. Old Port Advisors increased its holdings in shares of Meta Platforms by 10.4% during the 3rd quarter. Old Port Advisors now owns 3,074 shares of the social networking company’s stock worth $1,760,000 after purchasing an additional 290 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Meta Platforms by 36.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 782,081 shares of the social networking company’s stock worth $447,694,000 after purchasing an additional 207,187 shares during the period. Finally, Taylor & Morgan Wealth Management LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth about $222,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Cowen boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Piper Sandler lifted their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Loop Capital lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.20.

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.