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Nicholas Wealth LLC. Has $2.01 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

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Key Points

  • Nicholas Wealth LLC decreased its holdings in Meta Platforms by 10.6%, ending the quarter with 3,487 shares valued at approximately $2 million.
  • Several large investors, like Csenge Advisory Group and Skye Global Management LP, increased their stakes in Meta, indicating ongoing interest from institutional investors.
  • Meta Platforms recently reported earnings that surpassed expectations, with $6.43 EPS and $42.31 billion in revenue, reflecting a 16.1% year-over-year increase.
  • MarketBeat previews the top five stocks to own by September 1st.

Nicholas Wealth LLC. reduced its holdings 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 firm owned 3,487 shares of the social networking company's stock after selling 412 shares during the quarter. Meta Platforms comprises 1.2% of Nicholas Wealth LLC.'s investment portfolio, making the stock its 15th biggest holding. Nicholas Wealth LLC.'s holdings in Meta Platforms were worth $2,010,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of META. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors raised its holdings in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Finally, Northern Trust Corp grew its position in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial lifted 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. Sanford C. Bernstein boosted their price target on Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a research report on Thursday. Cantor Fitzgerald boosted their price target on Meta Platforms from $828.00 to $920.00 and gave the company an "overweight" rating in a research report on Thursday. Moffett Nathanson boosted their price target on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, TD Cowen boosted their price target on Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, forty have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $815.09.

Read Our Latest Report on META

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $23.43 on Friday, reaching $750.01. 18,985,910 shares of the company were exchanged, compared to its average volume of 15,659,175. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company's 50-day moving average is $699.22 and its two-hundred day moving average is $644.61. The firm has a market cap of $1.89 trillion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.66 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $450.80 and a 1-year high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 40.31% and a net margin of 39.99%. The business's quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,980 shares of company stock worth $105,708,832 in the last 90 days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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