37,443 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Interval Partners LP

Interval Partners LP purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, Holdings Channel.com reports. The fund purchased 37,443 shares of the social networking company’s stock, valued at approximately $21,923,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Meta Platforms during the 4th quarter worth $19,949,512,000. Proficio Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $2,243,603,000. Northern Trust Corp lifted its holdings in shares of Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Meta Platforms by 27.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock valued at $5,211,967,000 after purchasing an additional 1,892,509 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $592.52, for a total value of $545,710.92. Following the completion of the sale, the insider now owns 25,656 shares of the company’s stock, valued at $15,201,693.12. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the company’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the transaction, the chief technology officer now owns 5,139 shares of the company’s stock, valued at $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,689 shares of company stock worth $109,097,842 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Down 0.9 %

Shares of Meta Platforms stock opened at $592.49 on Friday. The business has a 50 day moving average price of $568.87 and a 200 day moving average price of $604.50. The company has a market capitalization of $1.50 trillion, a P/E ratio of 24.77, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The company 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 38.17% and a net margin of 37.91%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 earnings per share. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Wall Street Analyst Weigh In

META has been the topic of several research analyst reports. Jefferies Financial Group cut their price target on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Rosenblatt Securities upped their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Susquehanna lowered their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Piper Sandler upped their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Loop Capital lowered their price target on Meta Platforms from $900.00 to $695.00 and set a “buy” rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $696.45.

Meta Platforms 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.