Regent Peak Wealth Advisors LLC Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Regent Peak Wealth Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,020 shares of the social networking company’s stock after buying an additional 277 shares during the period. Meta Platforms accounts for 0.7% of Regent Peak Wealth Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Regent Peak Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new position in Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the third quarter worth approximately $36,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter worth $49,000. Finally, Hoese & Co LLP grew its position in Meta Platforms by 2,000.0% during the 3rd quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock worth $60,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.7 %

META traded down $10.75 on Tuesday, reaching $619.45. The company’s stock had a trading volume of 6,455,356 shares, compared to its average volume of 11,192,659. Meta Platforms, Inc. has a 1 year low of $352.05 and a 1 year high of $638.40. The business’s 50 day moving average is $590.92 and its 200 day moving average is $550.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $584.83, for a total value of $241,534.79. Following the completion of the transaction, the chief operating officer now owns 11,533 shares in the company, valued at approximately $6,744,844.39. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,640 shares of company stock worth $219,037,690. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on META. Robert W. Baird boosted their price target on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Roth Mkm increased their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Pivotal Research lifted their price objective on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Bank of America upped their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price objective on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.80.

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.