Allstate Corp Has $43.28 Million Stake in Meta Platforms, Inc. $META

Key Points

• Allstate Corp increased its investment in Meta Platforms, Inc. by 15.7% during the 1st quarter, owning 75,096 shares valued at approximately $43.3 million, making it the 14th largest holding in their portfolio.
• Insider trading activity included CEO Mark Zuckerberg selling 15,847 shares for over $11.9 million, while CFO Susan Li sold 18,332 shares, reflecting notable changes in executive holdings amidst overall strong quarterly earnings.
• Wall Street analysts have positive outlooks for Meta Platforms, with several upgrading their ratings and target prices, forecasting a significant increase in earnings per share (EPS) for the current year.

Allstate Corp boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,096 shares of the social networking company's stock after purchasing an additional 10,215 shares during the period. Meta Platforms accounts for about 1.3% of Allstate Corp's investment portfolio, making the stock its 14th biggest holding. Allstate Corp's holdings in Meta Platforms were worth $43,282,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Csenge Advisory Group grew its holdings in Meta Platforms by 12.0% during the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after purchasing an additional 1,019 shares during the period. Suvretta Capital Management LLC grew its holdings in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP grew its holdings in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares during the period. ARQ Wealth Advisors LLC grew its holdings in Meta Platforms by 4.5% during the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock worth $452,000 after purchasing an additional 34 shares during the period. Finally, JMG Financial Group Ltd. bought a new position in Meta Platforms during the first quarter worth about $284,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ:META traded up $15.69 during mid-day trading on Friday, reaching $754.79. 10,590,214 shares of the company's stock were exchanged, compared to its average volume of 13,655,942. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The firm has a market capitalization of $1.90 trillion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.56 and a beta of 1.27. The business's fifty day simple moving average is $730.31 and its two-hundred day simple moving average is $656.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. Meta Platforms's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the firm earned $5.16 earnings per share. Meta Platforms has set its Q3 2025 guidance at EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is 7.60%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 15,847 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total value of $46,557,000.00. Following the completion of the transaction, the insider directly owned 237,205 shares of the company's stock, valued at approximately $184,059,219.75. This trade represents a 20.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,803 shares of company stock valued at $235,276,424 over the last quarter. 13.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on META shares. Zacks Research cut Meta Platforms from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Needham & Company LLC upgraded Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. Rosenblatt Securities upped their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. DA Davidson upped their price target on shares of Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.

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.