Twin Peaks Wealth Advisors LLC Sells 482 Shares of Meta Platforms, Inc. (NASDAQ:META)

Twin Peaks Wealth Advisors LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,544 shares of the social networking company’s stock after selling 482 shares during the period. Meta Platforms accounts for about 3.8% of Twin Peaks Wealth Advisors LLC’s portfolio, making the stock its 5th largest holding. Twin Peaks Wealth Advisors LLC’s holdings in Meta Platforms were worth $9,101,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB lifted its holdings in Meta Platforms by 32.5% in the 3rd quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after purchasing an additional 112,047 shares in the last quarter. Howard Capital Management Group LLC raised its position in shares of Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock valued at $946,000 after buying an additional 251 shares during the last quarter. Austin Wealth Management LLC raised its position in shares of Meta Platforms by 1.4% in the third quarter. Austin Wealth Management LLC now owns 1,526 shares of the social networking company’s stock valued at $889,000 after buying an additional 21 shares during the last quarter. Palumbo Wealth Management LLC lifted its stake in shares of Meta Platforms by 3.8% in the third quarter. Palumbo Wealth Management LLC now owns 1,326 shares of the social networking company’s stock worth $759,000 after buying an additional 48 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in Meta Platforms by 0.7% during the third quarter. Congress Asset Management Co. now owns 340,762 shares of the social networking company’s stock worth $195,066,000 after acquiring an additional 2,465 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $655.05 on Tuesday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. 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 firm has a market capitalization of $1.66 trillion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The business’s fifty day moving average price is $654.28 and its 200 day moving average price is $597.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 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 period in the prior year, the company posted $5.33 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.32%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 902 shares of Meta Platforms stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $713.32, for a total transaction of $643,414.64. Following the sale, the insider now owns 27,488 shares in the company, valued at approximately $19,607,740.16. The trade was a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $623.50, for a total value of $257,505.50. Following the completion of the sale, the chief operating officer now directly owns 18,753 shares of the company’s stock, valued at $11,692,495.50. The trade was a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 796,712 shares of company stock worth $517,503,564. 13.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

META has been the topic of a number of research reports. Mizuho raised their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Raymond James reiterated a “strong-buy” rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Morgan Stanley boosted their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Pivotal Research raised their target price on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wolfe Research boosted their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $719.26.

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.