Javier Olivan Sells 413 Shares of Meta Platforms, Inc. (NASDAQ:META) Stock

by · The Cerbat Gem

Meta Platforms, Inc. (NASDAQ:META – Get Free Report) COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the sale, the chief operating officer now directly owns 11,120 shares of the company’s stock, valued at approximately $6,456,828. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • On Friday, October 11th, Javier Olivan sold 413 shares of Meta Platforms stock. The shares were sold at an average price of $584.83, for a total value 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 stock was 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 stock was 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 stock was 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 shares were 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 shares were 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 shares were sold at an average price of $521.48, for a total value of $214,849.76.

Meta Platforms Stock Up 1.2 %

NASDAQ META traded up $6.85 on Tuesday, hitting $582.01. 8,523,116 shares of the stock traded hands, compared to its average volume of 15,139,533. The stock has a 50-day moving average of $547.72 and a 200 day moving average of $509.22. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a market capitalization of $1.48 trillion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. 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 (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the firm earned $3.23 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. As a group, analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Bank of America lifted their price target on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wedbush reiterated an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. TD Cowen boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $619.20.

Read Our Latest Report on Meta Platforms

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of META. Gradient Investments LLC lifted its position in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after buying an additional 5,953 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Meta Platforms by 14.0% in the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after buying an additional 748,076 shares during the last quarter. ERn Financial LLC lifted its position in shares of Meta Platforms by 59.0% in the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after buying an additional 613 shares during the last quarter. Stanley Laman Group Ltd. lifted its position in shares of Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after buying an additional 352 shares during the last quarter. Finally, Lincoln National Corp lifted its position in shares of Meta Platforms by 7.8% in the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after buying an additional 2,504 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

About Meta Platforms

(Get Free Report)

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.

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