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

Meta Platforms, Inc. (NASDAQ:META) COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the transaction, the chief operating officer now directly owns 8,054 shares of the company’s stock, valued at approximately $4,904,886. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, March 3rd, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $673.96, for a total value of $409,767.68.
• On Monday, February 24th, Javier Olivan sold 608 shares of Meta Platforms stock. The stock was sold at an average price of $686.28, for a total value of $417,258.24.
• 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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.

Meta Platforms Stock Up 2.3 %

META opened at $619.56 on Thursday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.57 trillion, a P/E ratio of 25.90, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The business’s fifty day simple moving average is $658.13 and its 200 day simple moving average is $602.08.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $5.33 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Institutional Trading of Meta Platforms

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Meta Platforms during the fourth quarter worth about $19,949,512,000. Proficio Capital Partners LLC lifted its position in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the period. Integrated Investment Consultants LLC lifted its position in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the period. Raymond James Financial Inc. purchased a new position in Meta Platforms during the fourth quarter worth about $2,243,603,000. Finally, Northern Trust Corp lifted its position in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after buying an additional 2,787,832 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of a number of research reports. Robert W. Baird boosted their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Pivotal Research boosted their price objective on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group boosted their price objective on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Argus set a $775.00 price objective on Meta Platforms in a research note on Tuesday, February 4th. Finally, Citigroup boosted their price objective on Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.