Twin Peaks Wealth Advisors LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Twin Peaks Wealth Advisors LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,985 shares of the social networking company's stock after buying an additional 441 shares during the quarter. Meta Platforms makes up 4.2% of Twin Peaks Wealth Advisors LLC's holdings, making the stock its 3rd largest position. Twin Peaks Wealth Advisors LLC's holdings in Meta Platforms were worth $9,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of META. Bensler LLC grew its position in Meta Platforms by 8.4% during the 1st quarter. Bensler LLC now owns 11,916 shares of the social networking company's stock worth $6,868,000 after purchasing an additional 926 shares during the last quarter. Donald L. Hagan LLC lifted its holdings in Meta Platforms by 3.8% in the 1st quarter. Donald L. Hagan LLC now owns 5,081 shares of the social networking company's stock valued at $2,928,000 after acquiring an additional 184 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its holdings in shares of Meta Platforms by 1.7% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 6,881 shares of the social networking company's stock valued at $3,966,000 after purchasing an additional 113 shares during the period. F&V Capital Management LLC raised its position in shares of Meta Platforms by 76.9% in the first quarter. F&V Capital Management LLC now owns 18,962 shares of the social networking company's stock valued at $10,929,000 after purchasing an additional 8,245 shares during the period. Finally, Osprey Private Wealth LLC raised its stake in shares of Meta Platforms by 20.3% in the first quarter. Osprey Private Wealth LLC now owns 15,993 shares of the social networking company's stock valued at $9,218,000 after acquiring an additional 2,695 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on META. UBS Group increased their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Pivotal Research decreased their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Morgan Stanley increased their target price on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. KeyCorp raised their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Scotiabank lowered their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $704.26.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the sale, the chief operating officer now directly owns 7,446 shares of the company's stock, valued at $4,523,445. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the transaction, the chief technology officer now owns 16,463 shares of the company's stock, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,201 shares of company stock worth $56,377,837. 13.61% of the stock is owned by company insiders.

Meta Platforms Price Performance

NASDAQ META traded down $10.49 during trading on Friday, hitting $682.87. 9,259,272 shares of the stock traded hands, compared to its average volume of 14,501,078. The company has a market capitalization of $1.72 trillion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $604.07 and a 200-day simple moving average of $619.26.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the company posted $4.71 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

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.