Regent Peak Wealth Advisors LLC Has $2.78 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Regent Peak Wealth Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,825 shares of the social networking company’s stock after selling 195 shares during the period. Meta Platforms accounts for about 0.6% of Regent Peak Wealth Advisors LLC’s holdings, making the stock its 24th largest position. Regent Peak Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,781,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC grew its holdings in Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock valued at $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 Up 1.9%

NASDAQ META opened at $697.71 on Friday. The stock has a fifty day moving average of $587.67 and a 200-day moving average of $615.18. The stock has a market capitalization of $1.75 trillion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $4.71 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial raised their target price on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Piper Sandler raised their price objective on Meta Platforms from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Rosenblatt Securities raised their price objective on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Scotiabank reduced their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. Finally, Moffett Nathanson raised their price objective on Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $702.48.

Insider Activity

In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the completion of the sale, the insider now directly owns 29,702 shares of the company’s stock, valued at $19,930,042. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the sale, the chief operating officer now directly owns 8,054 shares of the company’s stock, valued at approximately $4,904,886. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,171 shares of company stock valued at $35,163,457. Company 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.