Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg Sells 13,793 Shares

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction on Friday, June 27th. The stock was sold at an average price of $730.47, for a total value of $10,075,372.71. Following the completion of the sale, the chief executive officer directly owned 29,947 shares of the company’s stock, valued at $21,875,385.09. The trade was a 31.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, July 2nd, Mark Zuckerberg sold 2,361 shares of Meta Platforms stock. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28.
• On Tuesday, July 1st, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The shares were sold at an average price of $723.89, for a total value of $9,984,614.77.
• On Wednesday, June 25th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $710.24, for a total value of $9,796,340.32.
• On Friday, June 20th, Mark Zuckerberg sold 500 shares of Meta Platforms stock. The shares were sold at an average price of $700.38, for a total transaction of $350,190.00.
• On Monday, June 16th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The stock was sold at an average price of $702.06, for a total value of $9,683,513.58.
• On Tuesday, June 17th, Mark Zuckerberg sold 8,312 shares of Meta Platforms stock. The shares were sold at an average price of $702.13, for a total value of $5,836,104.56.
• On Wednesday, June 18th, Mark Zuckerberg sold 2,753 shares of Meta Platforms stock. The shares were sold at an average price of $700.43, for a total value of $1,928,283.79.
• On Monday, June 9th, Mark Zuckerberg sold 7,466 shares of Meta Platforms stock. The stock was sold at an average price of $701.25, for a total value of $5,235,532.50.
• On Tuesday, June 10th, Mark Zuckerberg sold 13,793 shares of Meta Platforms stock. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09.
• On Wednesday, June 11th, Mark Zuckerberg sold 7,802 shares of Meta Platforms stock. The stock was sold at an average price of $701.96, for a total transaction of $5,476,691.92.

Meta Platforms Trading Down 0.8%

NASDAQ META opened at $713.57 on Thursday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $1.79 trillion, a PE ratio of 27.83, a P/E/G ratio of 1.77 and a beta of 1.28. The company has a fifty day moving average of $651.82 and a 200 day moving average of $628.50.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Cantor Fitzgerald upped their price objective on Meta Platforms from $676.00 to $807.00 and gave the company an “overweight” rating in a research report on Wednesday, June 18th. Rosenblatt Securities lifted their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Barclays lowered their target price on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Guggenheim raised their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $719.29.

Hedge Funds Weigh In On Meta Platforms

Institutional investors have recently made changes to their positions in the company. Norway Savings Bank increased its holdings in Meta Platforms by 15.3% in the second quarter. Norway Savings Bank now owns 5,028 shares of the social networking company’s stock valued at $3,711,000 after buying an additional 666 shares in the last quarter. HBW Advisory Services LLC grew its position in shares of Meta Platforms by 2.7% during the 2nd quarter. HBW Advisory Services LLC now owns 11,810 shares of the social networking company’s stock valued at $8,716,000 after acquiring an additional 313 shares during the period. Crumly & Associates Inc. increased its stake in shares of Meta Platforms by 154.1% in the 2nd quarter. Crumly & Associates Inc. now owns 1,085 shares of the social networking company’s stock valued at $801,000 after purchasing an additional 658 shares in the last quarter. Neville Rodie & Shaw Inc. raised its holdings in Meta Platforms by 1.5% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 27,483 shares of the social networking company’s stock worth $20,286,000 after purchasing an additional 415 shares during the period. Finally, Central Pacific Bank Trust Division raised its holdings in Meta Platforms by 8.9% in the 2nd quarter. Central Pacific Bank Trust Division now owns 14,956 shares of the social networking company’s stock worth $11,039,000 after purchasing an additional 1,224 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Company Profile

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.