Boomfish Wealth Group LLC Sells 37 Shares of Meta Platforms, Inc. (NASDAQ:META)

Boomfish Wealth Group LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,481 shares of the social networking company’s stock after selling 37 shares during the period. Boomfish Wealth Group LLC’s holdings in Meta Platforms were worth $1,453,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC grew its position in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after acquiring an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the last quarter. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after acquiring an additional 186,728 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the completion of the transaction, the chief technology officer now directly owns 8,565 shares in the company, valued at $4,943,375.40. This trade represents a 37.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the completion of the sale, the chief operating officer now owns 19,579 shares of the company’s stock, valued at $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 673,878 shares of company stock worth $416,269,904 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on META shares. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target on the stock in a research report on Thursday, January 30th. Stifel Nicolaus increased their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wedbush reiterated an “outperform” rating and set a $770.00 price target (up from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two equities research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $710.83.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $697.46 on Tuesday. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $710.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a fifty day moving average price of $616.25 and a 200-day moving average price of $568.60. The company has a market capitalization of $1.76 trillion, a PE ratio of 29.16, a PEG ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the firm earned $5.33 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 25.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is presently 8.36%.

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.