Interval Partners LP Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Interval Partners LP purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 37,443 shares of the social networking company’s stock, valued at approximately $21,923,000.

Several other large investors have also recently modified their holdings of META. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the 4th quarter worth approximately $45,000. Cordant Inc. purchased a new position in Meta Platforms during the 4th quarter worth approximately $59,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $59,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.9 %

Shares of META opened at $592.49 on Friday. The company’s 50-day moving average price is $568.87 and its 200 day moving average price is $604.50. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.50 trillion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter last year, the company posted $4.71 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

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

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,060 shares of the company’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the transaction, the insider now owns 308,686 shares of the company’s stock, valued at approximately $209,199,589.06. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,689 shares of company stock valued at $109,097,842. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

META has been the topic of several recent research reports. Arete Research raised shares of Meta Platforms to a “hold” rating in a report on Friday, January 24th. Susquehanna dropped their target price on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Moffett Nathanson boosted their price target on Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Wedbush lifted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, Argus set a $775.00 price target on shares of Meta Platforms in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $696.45.

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.