Twin Capital Management Inc. Sells 2,682 Shares of Meta Platforms, Inc. (NASDAQ:META)

Twin Capital Management Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,797 shares of the social networking company’s stock after selling 2,682 shares during the quarter. Meta Platforms makes up about 1.7% of Twin Capital Management Inc.’s holdings, making the stock its 7th biggest position. Twin Capital Management Inc.’s holdings in Meta Platforms were worth $13,025,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. WoodTrust Financial Corp boosted its position in shares of Meta Platforms by 1.8% in the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after buying an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners lifted its holdings in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after purchasing an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC lifted its holdings in Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after purchasing an additional 28 shares in the last quarter. Edge Wealth Management LLC lifted its holdings in Meta Platforms by 4.0% in the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after purchasing an additional 28 shares in the last quarter. Finally, Yarger Wealth Strategies LLC increased its stake in shares of Meta Platforms by 4.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock valued at $260,000 after acquiring an additional 28 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total transaction of $7,513,615.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total value of $7,513,615.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 9,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $388.90, for a total transaction of $3,500,100.00. Following the transaction, the chief operating officer now directly owns 79,935 shares of the company’s stock, valued at approximately $31,086,721.50. The disclosure for this sale can be found here. Insiders have sold 1,440,278 shares of company stock worth $684,796,490 over the last ninety days. 13.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Canaccord Genuity Group upped their price objective on shares of Meta Platforms from $580.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets upped their price objective on shares of Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Tigress Financial increased their target price on shares of Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $519.53.

Meta Platforms Stock Up 2.2 %

Shares of Meta Platforms stock traded up $11.02 on Thursday, hitting $505.19. 9,879,326 shares of the company’s stock traded hands, compared to its average volume of 16,977,816. The stock has a market cap of $1.29 trillion, a P/E ratio of 34.20, a PEG ratio of 1.28 and a beta of 1.20. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm’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.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same period last year, the business posted $3.00 earnings per share. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 20.06 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) 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.