Twin City Private Wealth LLC Trims Position in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Twin City Private Wealth LLC reduced its holdings in Meta Platforms, Inc. by 10.6%, selling 602 shares to end with a total of 5,087 shares valued at approximately $2.93 million.
• Meta reported a quarterly earnings per share (EPS) of $7.14, surpassing analyst estimates and marking an increase in revenue by 21.6% compared to the previous year.
• Recent upgrades from analysts have raised price targets for Meta Platforms, with some analysts estimating prices as high as $930, indicating strong market confidence.

Twin City Private Wealth LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,087 shares of the social networking company's stock after selling 602 shares during the period. Meta Platforms accounts for 2.6% of Twin City Private Wealth LLC's portfolio, making the stock its 5th largest holding. Twin City Private Wealth LLC's holdings in Meta Platforms were worth $2,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Valley Financial Group Inc. raised its stake in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC raised its position in Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after purchasing an additional 14 shares during the last quarter. ABLE Financial Group LLC lifted its holdings in Meta Platforms by 0.7% during the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares during the period. Mosaic Family Wealth Partners LLC grew its position in shares of Meta Platforms by 1.2% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock valued at $840,000 after buying an additional 17 shares during the last quarter. Finally, Orin Green Financial LLC increased its stake in shares of Meta Platforms by 2.2% in the fourth quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock valued at $465,000 after buying an additional 17 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on META shares. Hsbc Global Res upgraded shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 31st. DA Davidson upped their price target on shares of Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. BMO Capital Markets boosted their price objective on Meta Platforms from $610.00 to $710.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Citizens Jmp raised their target price on Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Pivotal Research increased their price target on Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $822.41.

Meta Platforms Price Performance

NASDAQ META traded down $3.43 on Monday, reaching $765.87. 7,597,659 shares of the stock traded hands, compared to its average volume of 15,441,953. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $784.75. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 1.60 and a beta of 1.27. The firm's fifty day simple moving average is $714.53 and its 200 day simple moving average is $651.30.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. The business had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm's quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 7.60%.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,263 shares of company stock worth $211,724,057 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms 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.