Interchange Capital Partners LLC Acquires 259 Shares of Meta Platforms, Inc. (NASDAQ:META)

Interchange Capital Partners LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,454 shares of the social networking company’s stock after acquiring an additional 259 shares during the period. Meta Platforms makes up about 1.4% of Interchange Capital Partners LLC’s investment portfolio, making the stock its 13th biggest position. Interchange Capital Partners LLC’s holdings in Meta Platforms were worth $3,777,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in META. JDM Financial Group LLC acquired a new position in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth about $36,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $40,000. Avondale Wealth Management bought a new position in Meta Platforms during the 4th quarter valued at about $41,000. Finally, Cordant Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the completion of the sale, the chief operating officer now owns 7,446 shares of the company’s stock, valued at approximately $4,523,445. This represents a 7.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total transaction of $535,542.80. Following the transaction, the insider now owns 32,915 shares in the company, valued at approximately $19,477,780.40. The trade was a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 585,605 shares of company stock worth $386,710,448 in the last three months. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on META shares. UBS Group raised their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their price objective on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Raymond James restated a “strong-buy” rating and issued a $800.00 target price (up from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald upped their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $718.31.

Meta Platforms Stock Performance

META opened at $626.31 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 1.42 and a beta of 1.23. The business’s 50-day moving average price is $656.24 and its two-hundred day moving average price is $608.00. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the business posted $5.33 EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is 8.78%.

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.