Bosman Wealth Management LLC Cuts Stock Position in Meta Platforms, Inc. $META

Bosman Wealth Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 44.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,013 shares of the social networking company’s stock after selling 2,414 shares during the quarter. Meta Platforms makes up 1.1% of Bosman Wealth Management LLC’s investment 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 institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock valued at $132,015,115,000 after acquiring an additional 7,269,279 shares during the last quarter. Auto Owners Insurance Co boosted its stake in shares of Meta Platforms by 76,587.7% in the fourth quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company’s stock worth $69,502,379,000 after acquiring an additional 105,154,977 shares during the last quarter. State Street Corp increased its position in shares of Meta Platforms by 5.1% during the fourth quarter. State Street Corp now owns 90,841,345 shares of the social networking company’s stock worth $59,963,463,000 after purchasing an additional 4,395,763 shares in the last quarter. Geode Capital Management LLC raised its stake in Meta Platforms by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 52,806,712 shares of the social networking company’s stock valued at $34,734,628,000 after purchasing an additional 878,396 shares during the last quarter. Finally, Capital World Investors raised its stake in Meta Platforms by 0.8% in the 4th quarter. Capital World Investors now owns 39,558,637 shares of the social networking company’s stock valued at $26,112,735,000 after purchasing an additional 310,947 shares during the last quarter. Institutional investors and hedge funds 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

Meta Platforms Stock Up 2.0%

NASDAQ:META opened at $570.05 on Wednesday. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $790.80. The stock’s fifty day moving average is $592.21 and its two-hundred day moving average is $613.14. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32.

Meta Platforms (NASDAQ:META) last announced 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 business had revenue of $60.80 billion during 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 company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the firm posted $7.14 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 28.5 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.4%. Meta Platforms’s payout ratio is presently 7.91%.

Analyst Ratings Changes

META has been the topic of several recent research reports. TD Cowen lowered their target price on shares of Meta Platforms from $800.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Mizuho set a $750.00 price target on shares of Meta Platforms in a research report on Thursday, July 30th. Wolfe Research reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Meta Platforms in a research note on Thursday, July 30th. Wedbush cut their price objective on shares of Meta Platforms from $671.00 to $595.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Evercore reissued an “outperform” rating on shares of Meta Platforms in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $785.32.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 3,348 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the completion of the transaction, the chief operating officer owned 9,498 shares in the company, valued at approximately $5,708,013.06. This represents a 26.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $4,379,184.00. Following the transaction, the chief technology officer directly owned 828 shares in the company, valued at approximately $462,024. The trade was a 90.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 34,957 shares of company stock valued at $20,442,696. 13.53% of the stock is owned by company insiders.

About Meta Platforms

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.