Interval Partners LP Sells 146,438 Shares of Meta Platforms, Inc. (NASDAQ:META)

Interval Partners LP decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 79.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of META. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Meta Platforms in the 1st quarter worth $44,000. Finally, Clear Investment Research LLC lifted its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $2.52 during trading on Tuesday, reaching $463.19. The stock had a trading volume of 11,294,849 shares, compared to its average volume of 16,128,882. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81. The stock has a market cap of $1.17 trillion, a PE ratio of 26.61, a PEG ratio of 1.20 and a beta of 1.21. The business has a fifty day moving average price of $493.14 and a 200-day moving average price of $476.77.

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

META has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Wednesday, July 24th. Stifel Nicolaus raised their price target on shares of 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 set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Loop Capital reiterated a “buy” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 3rd. Finally, Robert W. Baird reduced their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $538.29.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead 905 shares of Meta Platforms stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead 905 shares of the stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Insiders sold 311,175 shares of company stock valued at $154,616,712 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

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.