Nikulski Financial Inc. Sells 60 Shares of Meta Platforms, Inc. (NASDAQ:META)

Nikulski Financial Inc. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,097 shares of the social networking company’s stock after selling 60 shares during the quarter. Nikulski Financial Inc.’s holdings in Meta Platforms were worth $1,200,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Austin Wealth Management LLC lifted its stake in Meta Platforms by 1.4% in the third quarter. Austin Wealth Management LLC now owns 1,526 shares of the social networking company’s stock worth $889,000 after purchasing an additional 21 shares during the last quarter. HM Payson & Co. increased its holdings in shares of Meta Platforms by 4.4% in the third quarter. HM Payson & Co. now owns 172,112 shares of the social networking company’s stock worth $98,524,000 after buying an additional 7,255 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Meta Platforms by 4.8% in the 3rd quarter. Catalyst Financial Partners LLC now owns 8,102 shares of the social networking company’s stock valued at $4,638,000 after acquiring an additional 373 shares during the last quarter. Goldstone Financial Group LLC bought a new stake in shares of Meta Platforms in the 3rd quarter valued at about $994,000. Finally, Voisard Asset Management Group Inc. boosted its holdings in Meta Platforms by 13.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 822 shares of the social networking company’s stock valued at $471,000 after acquiring an additional 99 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Peggy Alford sold 1,052 shares of Meta Platforms stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total value of $503,908.00. Following the completion of the sale, the director now directly owns 6,168 shares in the company, valued at approximately $2,954,472. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peggy Alford sold 1,052 shares of Meta Platforms stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total transaction of $503,908.00. Following the transaction, the director now owns 6,168 shares in the company, valued at $2,954,472. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 251,092 shares of company stock valued at $132,865,496 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on META shares. JMP Securities boosted their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday. KeyCorp increased their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Raymond James boosted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird increased their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Performance

Shares of META stock opened at $567.16 on Monday. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.83 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $308.33 and a one year high of $602.95. The company’s 50-day moving average is $555.99 and its 200 day moving average is $513.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 21.84 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.