Javier Olivan Sells 2,778 Shares of Meta Platforms (NASDAQ:META) Stock

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) COO Javier Olivan sold 2,778 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the completion of the sale, the chief operating officer directly owned 10,557 shares of the company’s stock, valued at approximately $6,645,103.65. This represents a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Monday, April 13th, Javier Olivan sold 1,887 shares of Meta Platforms stock. The stock was sold at an average price of $629.55, for a total value of $1,187,960.85.
  • On Monday, March 23rd, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $605.38, for a total value of $380,784.02.
  • On Monday, March 23rd, Javier Olivan sold 926 shares of Meta Platforms stock. The stock was sold at an average price of $605.38, for a total value of $560,581.88.
  • On Monday, March 16th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $632.02, for a total value of $397,540.58.
  • On Monday, March 16th, Javier Olivan sold 926 shares of Meta Platforms stock. The stock was sold at an average price of $632.02, for a total value of $585,250.52.
  • On Monday, March 9th, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $634.94, for a total value of $399,377.26.
  • On Monday, March 9th, Javier Olivan sold 926 shares of Meta Platforms stock. The stock was sold at an average price of $634.94, for a total value of $587,954.44.
  • On Monday, March 2nd, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $637.21, for a total value of $400,805.09.
  • On Monday, March 2nd, Javier Olivan sold 926 shares of Meta Platforms stock. The stock was sold at an average price of $637.21, for a total value of $590,056.46.
  • On Monday, February 23rd, Javier Olivan sold 629 shares of Meta Platforms stock. The stock was sold at an average price of $652.68, for a total value of $410,535.72.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $9.09 on Wednesday, reaching $671.58. 14,921,055 shares of the stock were exchanged, compared to its average volume of 15,988,636. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 28.58, a PEG ratio of 0.98 and a beta of 1.31. The business has a 50 day moving average price of $626.76 and a two-hundred day moving average price of $651.90.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. During the same quarter in the previous year, the company posted $8.02 earnings per share. The company’s revenue was up 23.8% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Monday, March 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is presently 8.94%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup reissued an “outperform” rating on shares of Meta Platforms in a report on Thursday, January 29th. Evercore boosted their price target on Meta Platforms from $875.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. DA Davidson boosted their price target on Meta Platforms from $825.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Scotiabank boosted their price target on Meta Platforms from $685.00 to $700.00 and gave the company a “sector perform” rating in a report on Thursday, January 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $900.00 price target (up from $870.00) on shares of Meta Platforms in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $837.72.

Read Our Latest Report on META

Institutional Trading of Meta Platforms

Institutional investors and hedge funds have recently made changes to their positions in the business. Vista Capital Partners Inc. grew its position in Meta Platforms by 1.3% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after buying an additional 14 shares during the last quarter. Trust Co of the South grew its position in Meta Platforms by 0.8% in the 3rd quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after buying an additional 14 shares during the last quarter. Sentinel Pension Advisors LLC grew its position in Meta Platforms by 1.6% in the 3rd quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock valued at $672,000 after buying an additional 14 shares during the last quarter. Alpine Bank Wealth Management grew its position in Meta Platforms by 0.3% in the 3rd quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock valued at $3,159,000 after buying an additional 14 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its position in shares of Meta Platforms by 3.2% during the 3rd quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock worth $334,000 after purchasing an additional 14 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

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About Meta Platforms

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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