Interchange Capital Partners LLC Has $3.78 Million Stake in 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 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,454 shares of the social networking company’s stock after acquiring an additional 259 shares during the quarter. Meta Platforms makes up about 1.4% of Interchange Capital Partners LLC’s portfolio, making the stock its 13th biggest holding. Interchange Capital Partners LLC’s holdings in Meta Platforms were worth $3,777,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Howard Capital Management Group LLC lifted its position in Meta Platforms by 17.9% during the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after acquiring an additional 251 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Meta Platforms by 6.5% in the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock valued at $1,928,185,000 after purchasing an additional 204,412 shares during the last quarter. United Bank increased its stake in shares of Meta Platforms by 22.2% during the third quarter. United Bank now owns 5,569 shares of the social networking company’s stock worth $3,188,000 after purchasing an additional 1,011 shares during the period. Algert Global LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $6,885,000. Finally, KKM Financial LLC boosted its stake in Meta Platforms by 8.1% in the 3rd quarter. KKM Financial LLC now owns 13,130 shares of the social networking company’s stock valued at $7,516,000 after purchasing an additional 988 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on META shares. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Bank of America boosted their price objective on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Argus set a $775.00 target price on shares of Meta Platforms in a report on Tuesday, February 4th. Arete Research upgraded Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, BMO Capital Markets increased their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Meta Platforms Stock Up 1.2 %

Meta Platforms stock opened at $626.31 on Wednesday. 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’s fifty day moving average price is $656.24 and its two-hundred day moving average price is $608.00. The firm has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. 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 quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $5.33 earnings per share. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,311 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $600.21, for a total value of $1,387,085.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 585,605 shares of company stock worth $386,710,448. Corporate insiders own 13.71% of the company’s stock.

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.