Meta Platforms, Inc. (NASDAQ:META) CEO Sells $21,951,323.10 in Stock

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $611.10, for a total transaction of $21,951,323.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Zuckerberg also recently made the following trade(s):

• On Monday, January 6th, Mark Zuckerberg sold 12,975 shares of Meta Platforms stock. The shares were sold at an average price of $618.42, for a total value of $8,023,999.50.
• On Friday, January 3rd, Mark Zuckerberg sold 35,921 shares of Meta Platforms stock. The shares were sold at an average price of $603.98, for a total transaction of $21,695,565.58.
• On Friday, December 27th, Mark Zuckerberg sold 2,311 shares of Meta Platforms stock. The shares were sold at an average price of $600.21, for a total transaction of $1,387,085.31.
• On Tuesday, December 24th, Mark Zuckerberg sold 35,921 shares of Meta Platforms stock. The stock was sold at an average price of $604.46, for a total transaction of $21,712,807.66.
• On Friday, December 20th, Mark Zuckerberg sold 10,100 shares of Meta Platforms stock. The shares were sold at an average price of $601.54, for a total value of $6,075,554.00.
• On Monday, December 16th, Mark Zuckerberg sold 35,921 shares of Meta Platforms stock. The shares were sold at an average price of $624.85, for a total value of $22,445,236.85.
• On Wednesday, December 18th, Mark Zuckerberg sold 22,035 shares of Meta Platforms stock. The stock was sold at an average price of $618.63, for a total transaction of $13,631,512.05.
• On Friday, December 13th, Mark Zuckerberg sold 35,921 shares of Meta Platforms stock. The shares were sold at an average price of $622.24, for a total transaction of $22,351,483.04.
• On Monday, December 9th, Mark Zuckerberg sold 12,975 shares of Meta Platforms stock. The shares were sold at an average price of $614.36, for a total transaction of $7,971,321.00.
• On Wednesday, December 11th, Mark Zuckerberg sold 35,921 shares of Meta Platforms stock. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25.

Meta Platforms Stock Down 1.2 %

META stock traded down $7.17 during trading on Wednesday, hitting $610.72. 10,067,187 shares of the company’s stock traded hands, compared to its average volume of 12,162,989. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 28.77, a PEG ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $355.36 and a 1 year high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $591.79 and a two-hundred day simple moving average of $551.75.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating 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 net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Barclays boosted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Wolfe Research raised their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Raymond James reiterated a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a research report on Monday, November 25th. Finally, DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $645.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Private Trust Co. raised its position in shares of Meta Platforms by 5.4% in the fourth quarter. Legacy Private Trust Co. now owns 22,852 shares of the social networking company’s stock worth $13,380,000 after acquiring an additional 1,168 shares during the period. Private Client Services LLC increased its stake in shares of Meta Platforms by 31.9% in the 4th quarter. Private Client Services LLC now owns 2,057 shares of the social networking company’s stock valued at $1,205,000 after purchasing an additional 497 shares in the last quarter. Hilltop Wealth Advisors LLC raised its holdings in Meta Platforms by 7.0% in the 4th quarter. Hilltop Wealth Advisors LLC now owns 446 shares of the social networking company’s stock worth $261,000 after purchasing an additional 29 shares during the period. Worth Asset Management LLC boosted its position in Meta Platforms by 14.4% during the fourth quarter. Worth Asset Management LLC now owns 818 shares of the social networking company’s stock worth $479,000 after purchasing an additional 103 shares in the last quarter. Finally, Park National Corp OH grew its holdings in Meta Platforms by 8.8% in the fourth quarter. Park National Corp OH now owns 7,057 shares of the social networking company’s stock valued at $4,132,000 after purchasing an additional 572 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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.