Mediolanum International Funds Ltd Has $179.17 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mediolanum International Funds Ltd reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 6.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,321 shares of the social networking company’s stock after selling 20,751 shares during the quarter. Meta Platforms comprises about 2.3% of Mediolanum International Funds Ltd’s holdings, making the stock its 4th biggest holding. Mediolanum International Funds Ltd’s holdings in Meta Platforms were worth $179,171,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the period. Capital World Investors increased its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after purchasing an additional 244,803 shares during the last quarter. Capital Research Global Investors increased its holdings in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares in the last quarter. Jennison Associates LLC increased its holdings in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC grew its holdings in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after buying an additional 342,742 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on META. Susquehanna increased their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Mizuho increased their target price on Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $621.63.

Meta Platforms Stock Up 0.9 %

META stock opened at $578.16 on Tuesday. Meta Platforms, Inc. has a twelve month low of $296.86 and a twelve month high of $602.95. The company has a market cap of $1.47 trillion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The business’s 50-day simple moving average is $552.03 and its 200 day simple moving average is $511.04. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.23 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the completion of the sale, the insider now owns 32,387 shares of the company’s stock, valued at $18,612,808.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,817 shares of company stock worth $132,547,715 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.