Meta Platforms, Inc. (NASDAQ:META) is Twin Peaks Wealth Advisors LLC’s 4th Largest Position

Twin Peaks Wealth Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,026 shares of the social networking company’s stock after purchasing an additional 263 shares during the quarter. Meta Platforms accounts for approximately 4.2% of Twin Peaks Wealth Advisors LLC’s investment portfolio, making the stock its 4th largest position. Twin Peaks Wealth Advisors LLC’s holdings in Meta Platforms were worth $9,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Capital Research Global Investors lifted its position in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC lifted its position in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP bought a new stake in Meta Platforms in the second quarter worth $595,152,000. Finally, Vanguard Group Inc. lifted its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 251,993 shares of company stock worth $133,271,982 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $567.16 on Friday. Meta Platforms, Inc. has a 52-week low of $308.33 and a 52-week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.43 trillion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. The firm’s 50-day moving average price is $555.99 and its 200-day moving average price is $513.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on META. Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Mizuho raised their price target on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.