Meta Platforms, Inc. (NASDAQ:META) is Twin Capital Management Inc.’s 6th Largest Position

Twin Capital Management Inc. reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,297 shares of the social networking company’s stock after selling 836 shares during the period. Meta Platforms accounts for 2.2% of Twin Capital Management Inc.’s portfolio, making the stock its 6th biggest holding. Twin Capital Management Inc.’s holdings in Meta Platforms were worth $19,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Csenge Advisory Group boosted its holdings in shares of Meta Platforms by 12.0% during the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock valued at $5,498,000 after purchasing an additional 1,019 shares during the last quarter. Suvretta Capital Management LLC grew its holdings in shares of Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock valued at $99,735,000 after purchasing an additional 1,850 shares in the last quarter. Skye Global Management LP increased its position in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after purchasing an additional 43,200 shares during the last quarter. ARQ Wealth Advisors LLC raised its stake in Meta Platforms by 4.5% during the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock valued at $452,000 after purchasing an additional 34 shares in the last quarter. Finally, JMG Financial Group Ltd. bought a new position in Meta Platforms during the first quarter valued at $284,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on META. DA Davidson decreased their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Monness Crespi & Hardt lifted their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Rosenblatt Securities raised their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Pivotal Research cut their price target on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, TD Cowen raised their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $752.33.

Meta Platforms Price Performance

NASDAQ:META opened at $714.80 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The stock’s 50-day moving average price is $691.04 and its 200-day moving average price is $640.92. The stock has a market capitalization of $1.80 trillion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

Meta Platforms (NASDAQ:META) 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. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.71 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms’s payout ratio is presently 8.19%.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the sale, the chief executive officer owned 118,279 shares of the company’s stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,473 shares of company stock worth $105,805,440. Company insiders own 13.61% of the company’s stock.

About Meta Platforms

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.