ANTIPODES PARTNERS Ltd Has $104.07 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

ANTIPODES PARTNERS Ltd lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 23.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,322 shares of the social networking company’s stock after selling 65,751 shares during the period. Meta Platforms accounts for 3.3% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 12th largest holding. ANTIPODES PARTNERS Ltd’s holdings in Meta Platforms were worth $104,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. S.A. Mason LLC increased its holdings in shares of Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the last quarter. LongView Wealth Management increased its holdings in shares of Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in shares of Meta Platforms by 5.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after buying an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc increased its holdings in shares of Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the sale, the insider now directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The disclosure for this sale can be found here. Insiders sold 294,278 shares of company stock valued at $146,060,559 over the last three months. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on META. KeyCorp increased their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. BNP Paribas began coverage on shares of Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price on the stock. Barclays reduced their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. UBS Group reduced their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $515.64.

Meta Platforms Stock Down 2.7 %

Shares of Meta Platforms stock opened at $498.87 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $1.27 trillion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The company has a 50-day simple moving average of $492.56 and a two-hundred day simple moving average of $466.78.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, analysts anticipate that Meta Platforms, Inc. will post 20.21 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.