Twin Capital Management Inc. Has $13.03 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Twin Capital Management Inc. reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,797 shares of the social networking company’s stock after selling 2,682 shares during the period. Meta Platforms accounts for 1.7% of Twin Capital Management Inc.’s portfolio, making the stock its 7th largest position. Twin Capital Management Inc.’s holdings in Meta Platforms were worth $13,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Stone House Investment Management LLC increased its stake in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. MBM Wealth Consultants LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $26,000. Stephens Investment Management Group LLC purchased a new stake in Meta Platforms in the second quarter worth approximately $30,000. Beaird Harris Wealth Management LLC boosted its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Finally, PayPay Securities Corp boosted its stake in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. UBS Group lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “buy” rating in a research note on Tuesday. Tigress Financial lifted their price target on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. Mizuho lifted their price target on shares of Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $519.53.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the sale, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,440,278 shares of company stock valued at $684,796,490. Company insiders own 13.75% of the company’s stock.

Meta Platforms Stock Up 2.2 %

Shares of META traded up $11.02 during mid-day trading on Thursday, hitting $505.19. The company’s stock had a trading volume of 9,879,326 shares, compared to its average volume of 16,977,816. The company’s 50-day moving average is $493.65 and its 200-day moving average is $396.70. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $531.49. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 34.20, a PEG ratio of 1.28 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same quarter in the prior year, the company earned $3.00 EPS. The company’s revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.06 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s payout ratio is presently 13.42%.

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.