Angeles Wealth Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,190 shares of the social networking company's stock after selling 1,278 shares during the quarter. Meta Platforms comprises 0.3% of Angeles Wealth Management LLC's holdings, making the stock its 28th largest holding. Angeles Wealth Management LLC's holdings in Meta Platforms were worth $7,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. RHL Group LLC acquired a new stake in Meta Platforms in the 4th quarter worth approximately $28,000. Advantage Trust Co acquired a new stake in shares of Meta Platforms during the second quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $29,000. Niles Investment Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $29,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of Meta Platforms during the first quarter valued at $36,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Key Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta is reportedly preparing to launch Hatch, a consumer AI agent that could let users browse Reddit, order from DoorDash, shop on Etsy, access Yelp and manage Outlook within Meta’s ecosystem. The product could increase engagement with Meta’s platforms and strengthen its position in consumer AI. Reddit Stock Is Up, What You Need to Know
- Positive Sentiment: Analysts continue to point to accelerating advertising growth, AI-powered ad tools, rising user engagement and increased advertiser adoption as factors helping Meta outperform social-media rivals Reddit and Snap. META Rides on Ad Growth
- Positive Sentiment: Former OpenAI researcher Luke Metz has joined Meta’s Superintelligence Labs and will report to AI chief Alexandr Wang. The hire supports Meta’s effort to build advanced AI capabilities, although the financial benefits are longer term. Luke Metz Joins Meta’s Superintelligence Labs
- Neutral Sentiment: Reports highlighted substantial Meta insider-trading activity during August, including notable transactions on August 18. The article did not establish whether the activity represented buying or selling, limiting its immediate stock-price significance. Monster Insider Trading Alert for Meta Stock
- Negative Sentiment: Instagram chief Adam Mosseri is testifying in a lawsuit brought by 29 states alleging that Meta designed Instagram and Facebook to be addictive to children while downplaying safety risks. An adverse outcome could create regulatory, redesign and financial costs. Instagram Head Adam Mosseri to Testify at Meta Trial
Insiders Place Their Bets
In other news, CTO Andrew Bosworth sold 7,848 shares of Meta Platforms stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $4,379,184.00. Following the sale, the chief technology officer owned 828 shares in the company, valued at $462,024. This trade represents a 90.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 1,559 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total transaction of $869,922.00. Following the transaction, the insider owned 1,957 shares of the company's stock, valued at approximately $1,092,006. This trade represents a 44.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 34,957 shares of company stock valued at $20,442,696. Corporate insiders own 13.53% of the company's stock.
Analyst Ratings Changes
META has been the subject of a number of research analyst reports. Barclays reduced their target price on Meta Platforms from $830.00 to $780.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. Citizens Jmp cut their price objective on Meta Platforms from $800.00 to $770.00 and set a "market outperform" rating on the stock in a report on Thursday, July 30th. Bank of America reduced their price objective on Meta Platforms from $835.00 to $810.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Weiss Ratings downgraded Meta Platforms from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Finally, Raymond James Financial upped their target price on Meta Platforms from $825.00 to $850.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $785.32.
Read Our Latest Stock Analysis on Meta Platforms
Meta Platforms Stock Performance
Shares of NASDAQ META opened at $570.05 on Wednesday. The company has a market capitalization of $1.45 trillion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. The company's fifty day moving average price is $592.21 and its 200 day moving average price is $613.14. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $790.80.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing analysts' consensus estimates of $7.19 by ($1.01). The firm had revenue of $60.80 billion during the quarter, compared to analysts' expectations of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The firm's quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the firm posted $7.14 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 28.5 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were given a $0.525 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. Meta Platforms's payout ratio is 7.91%.
About Meta Platforms
(
Free Report)
Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
Further Reading
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).
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