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

Javier Olivan, the Chief Operating Officer of Meta Platforms, Inc. (NASDAQ:META), recently executed a stock sale on Friday, October 18th. In this transaction, Olivan sold a total of 413 shares at an average price of $580.65. The total amount generated from this sale was approximately $239,808.45. After the sale, Olivan’s ownership in the company now stands at 11,120 shares, which are valued at around $6,456,828, marking a 0.00% decrease in his total stock ownership. This transaction has been officially reported in a filing with the Securities and Exchange Commission (SEC), which is available for public access.

Recently, Javier Olivan has also been active in trading Meta shares. Notable transactions include:

• On October 11th, he sold 413 shares at an average price of $584.83, totaling $241,534.79.
• On October 4th, he sold 413 shares at an average price of $583.73, bringing in $241,080.49.
• On September 27th, Olivan sold another 413 shares, averaging $570.00, with total proceeds of $235,410.00.
• On September 20th, he sold 413 shares at $560.00, generating $231,280.00.
• On September 13th, he sold 413 shares at an average price of $520.57 for a total of $214,995.41.
• On September 6th, he sold 413 shares at $522.00, totaling $215,586.00.
• In previous weeks, similar transactions were conducted, with the price per share varying slightly.

Recent Stock Performance

As of Tuesday, October 22nd, shares of Meta Platforms traded up by 1.2%, reaching $582.01. Approximately 8,523,116 shares exchanged hands, which is lower than its average trading volume of 15,139,533. The stock has shown significant movement with a 50-day moving average of $547.72 and a 200-day moving average of $509.22. Meta’s stock has fluctuated significantly in the past year, with a low of $279.40 and a peak of $602.95. Presently, the company's market capitalization stands at $1.48 trillion, and it has a price-to-earnings (P/E) ratio of 33.43.

Financial Results

Meta Platforms shared its earnings report on July 31st, where it disclosed earnings of $5.16 per share, surpassing analysts' expectations of $4.70. The company’s revenue for the quarter reached $39.07 billion, exceeding predictions of $38.26 billion. This revenue represents a 22.1% growth year-over-year. Analysts currently predict that Meta will achieve approximately 21.37 earnings per share for the ongoing fiscal year.

Dividend Declaration

Additionally, Meta Platforms announced a quarterly dividend of $0.50 per share, which was issued on September 26th to shareholders who were on record as of September 16th. This translates to an annualized dividend of $2.00, yielding approximately 0.34%. Their payout ratio stands at 11.49%, reflecting a careful management of earnings and dividends.

Analyst Ratings

Meta has garnered attention from various analysts, with many increasing their price targets. For instance, Wells Fargo recently raised its price target from $647.00 to $652.00 while maintaining an 'overweight' rating. Bank of America also adjusted its target from $563.00 to $630.00, assigning a 'buy' rating. Other notable upgrades include TD Cowen's increase from $600.00 to $675.00. Among analysts, the general consensus rates Meta as a 'Moderate Buy', with an average price target around $619.20.

Institutional Holdings

Institutional investors continue to play a significant role in Meta Platforms. Several firms have recently increased their stakes in the company, including Gradient Investments, Baillie Gifford & Co., and Lincoln National Corp. Overall, approximately 79.91% of Meta's stock is held by these institutional investors, reflecting strong institutional confidence in the company.

About Meta Platforms, Inc.

Meta Platforms, Inc. is a leading developer of social media and communication technologies. The company operates through its Family of Apps, which includes well-known platforms like Facebook, Instagram, WhatsApp, and Messenger.

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