Twin City Private Wealth LLC Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Twin City Private Wealth LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,689 shares of the social networking company’s stock after purchasing an additional 250 shares during the quarter. Meta Platforms accounts for approximately 2.9% of Twin City Private Wealth LLC’s holdings, making the stock its 2nd biggest position. Twin City Private Wealth LLC’s holdings in Meta Platforms were worth $3,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the 3rd quarter valued at $36,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth about $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $41,000. Finally, Cordant Inc. bought a new stake 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 Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the transaction, the chief operating officer now owns 17,514 shares of the company’s stock, valued at $10,318,548.24. This represents a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,060 shares of the firm’s 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 $3,727,550.20. Following the transaction, the chief technology officer now directly owns 5,139 shares of the company’s stock, valued at $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 585,605 shares of company stock valued at $386,710,448 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $619.55 on Tuesday. The stock’s fifty day simple moving average is $655.60 and its 200 day simple moving average is $607.11. 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 company has a market capitalization of $1.57 trillion, a PE ratio of 25.90, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month 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 EPS for the quarter, topping 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 last year, the company earned $5.33 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.34%. 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. Meta Platforms’s dividend payout ratio is 8.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on META shares. Citigroup raised their price target on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target on the stock in a research report on Thursday, January 30th. DA Davidson raised their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, UBS Group boosted their target price on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two 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. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

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.