Bosman Wealth Management LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 44.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,013 shares of the social networking company's stock after selling 2,414 shares during the quarter. Meta Platforms accounts for 1.1% of Bosman Wealth Management LLC's portfolio, making the stock its 27th largest position. Bosman Wealth Management LLC's holdings in Meta Platforms were worth $1,697,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its position in shares of Meta Platforms by 76,587.7% during the fourth quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company's stock valued at $69,502,379,000 after buying an additional 105,154,977 shares during the period. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $22,152,075,000. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company's stock worth $132,015,115,000 after acquiring an additional 7,269,279 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Meta Platforms by 488.1% during the 4th quarter. Corient Private Wealth LLC now owns 5,466,595 shares of the social networking company's stock valued at $3,608,445,000 after acquiring an additional 4,537,076 shares during the period. Finally, State Street Corp boosted its holdings in Meta Platforms by 5.1% during the 4th quarter. State Street Corp now owns 90,841,345 shares of the social networking company's stock valued at $59,963,463,000 after acquiring an additional 4,395,763 shares during the period. 79.91% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Benchmark started coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They issued a "buy" rating on the stock. Citigroup dropped their target price on shares of Meta Platforms from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Truist Financial reduced their target price on shares of Meta Platforms from $840.00 to $770.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Piper Sandler reiterated an "overweight" rating and issued a $785.00 price target (down from $800.00) on shares of Meta Platforms in a report on Thursday, July 30th. Finally, Guggenheim reissued a "buy" rating and issued a $800.00 price objective on shares of Meta Platforms in a research note on Tuesday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $785.32.
Check Out Our Latest Report on Meta Platforms
Key Stories Impacting Meta Platforms
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
Meta Platforms Price Performance
NASDAQ META opened at $570.05 on Wednesday. The firm's fifty day simple moving average is $592.21 and its two-hundred day simple moving average is $613.14. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 21.47, a P/E/G ratio of 0.95 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. Meta Platforms, Inc. has a 12-month low of $520.26 and a 12-month high of $790.80.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.19 by ($1.01). The company had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The business's revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the company earned $7.14 EPS. Analysts forecast that Meta Platforms, Inc. will post 28.5 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid 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 dividend payout ratio is presently 7.91%.
Insider Buying and Selling at Meta Platforms
In related news, insider Curtis J. Mahoney sold 1,559 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total value of $869,922.00. Following the completion of the transaction, the insider directly owned 1,957 shares in the company, valued at $1,092,006. The trade was a 44.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of Meta Platforms stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the completion of the transaction, the chief technology officer directly owned 828 shares of the company's stock, valued at $462,024. The trade was a 90.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 34,957 shares of company stock worth $20,442,696. 13.53% of the stock is currently owned by company insiders.
Meta Platforms Company Profile
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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.
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