Boomfish Wealth Group LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 76.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,384 shares of the social networking company's stock after purchasing an additional 1,903 shares during the quarter. Meta Platforms comprises approximately 1.6% of Boomfish Wealth Group LLC's portfolio, making the stock its 19th largest holding. Boomfish Wealth Group LLC's holdings in Meta Platforms were worth $2,527,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Suvretta Capital Management LLC grew its holdings in Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP increased its holdings in shares of Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after buying an additional 43,200 shares during the last quarter. Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $459,000. Kovitz Investment Group Partners LLC increased its holdings in shares of Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after buying an additional 1,229,350 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after buying an additional 110,040 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Meta Platforms
In related news, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the sale, the insider now directly owns 31,182 shares of the company's stock, valued at $19,552,673.10. The trade was a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,512 shares of company stock valued at $73,590,232 over the last ninety days. Insiders own 13.61% of the company's stock.
Meta Platforms Stock Down 0.2%
Shares of Meta Platforms stock traded down $1.46 during trading on Thursday, hitting $695.77. 9,635,650 shares of the stock were exchanged, compared to its average volume of 14,501,973. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The firm's 50-day moving average price is $612.33 and its 200 day moving average price is $621.89. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the company earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Analyst Ratings Changes
META has been the subject of a number of recent analyst reports. Roth Capital raised their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Benchmark cut their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. UBS Group raised their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Morgan Stanley raised their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Loop Capital raised their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $710.00.
View Our Latest Stock Report on META
Meta Platforms Company 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
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
