Mediolanum International Funds Ltd Has $187 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Meta Platforms by 7.7%, selling 27,188 shares, leaving them with 324,240 shares worth approximately $187 million.
• Multiple hedge funds have increased their holdings in Meta, with Csenge Advisory Group boosting their position by 12% and Suvretta Capital Management growing their stake by 1.1%.
• Meta Platforms recently declared a quarterly dividend of $0.525 per share, representing an annualized yield of 0.30%, paid to stockholders recorded on June 16th.

Mediolanum International Funds Ltd trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,240 shares of the social networking company's stock after selling 27,188 shares during the period. Meta Platforms makes up about 2.6% of Mediolanum International Funds Ltd's holdings, making the stock its 5th biggest position. Mediolanum International Funds Ltd's holdings in Meta Platforms were worth $187,002,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of META. Inlight Wealth Management LLC acquired a new position in Meta Platforms in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms in the 1st quarter worth about $28,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the 4th quarter worth about $45,000. JCIC Asset Management Inc. increased its position in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms in the 4th quarter worth about $47,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,461 shares of company stock valued at $105,335,225. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 0.7%

NASDAQ META traded down $4.79 during trading hours on Wednesday, hitting $695.21. The company's stock had a trading volume of 26,166,475 shares, compared to its average volume of 9,688,610. Meta Platforms, Inc. has a twelve month low of $450.80 and a twelve month high of $747.90. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 27.11, a PEG ratio of 1.68 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $696.48 and a 200 day moving average of $643.47.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. During the same period in the previous year, the firm earned $5.16 EPS. The company's revenue was up 21.6% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on META. TD Cowen increased their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Robert W. Baird increased their price objective on Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Guggenheim reissued a "buy" rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a report on Monday. Finally, Monness Crespi & Hardt increased their price objective on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $754.07.

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.