Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Twin Peaks Wealth Advisors LLC

Twin Peaks Wealth Advisors LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,985 shares of the social networking company’s stock after acquiring an additional 441 shares during the period. Meta Platforms comprises 4.2% of Twin Peaks Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Twin Peaks Wealth Advisors LLC’s holdings in Meta Platforms were worth $9,213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC lifted its position in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock worth $50,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $682.87 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock has a market cap of $1.72 trillion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The firm’s fifty day simple moving average is $604.07 and its 200-day simple moving average is $619.26.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the prior year, the company earned $4.71 EPS. The firm’s revenue was up 16.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $676.00 price objective on shares of Meta Platforms in a research report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $704.26.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on 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 completion of the sale, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.00, for a total transaction of $363,819.00. Following the completion of the sale, the insider now owns 29,183 shares of the company’s stock, valued at approximately $20,457,283. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,201 shares of company stock valued at $56,377,837. Insiders own 13.61% of the company’s stock.

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.