Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Interval Partners LP

Interval Partners LP reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 79.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,199 shares of the social networking company’s stock after selling 146,438 shares during the period. Interval Partners LP’s holdings in Meta Platforms were worth $18,549,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at $32,000. Clear Investment Research LLC grew its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,175 shares of company stock worth $154,616,712. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. KeyCorp lifted their price target on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Jefferies Financial Group cut their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Royal Bank of Canada lowered their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $538.29.

Meta Platforms Price Performance

Shares of META stock traded down $2.52 on Tuesday, reaching $463.19. The company’s stock had a trading volume of 11,294,849 shares, compared to its average volume of 16,128,882. The company has a market capitalization of $1.17 trillion, a P/E ratio of 26.61, a PEG ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The stock’s 50 day simple moving average is $493.14 and its 200-day simple moving average is $476.77. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. Meta Platforms’s payout ratio is currently 11.49%.

About Meta Platforms

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.