Advisor Partners LLC raised its position in shares of Facebook, Inc. (NASDAQ:FB) by 9.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 34,616 shares of the social networking company’s stock after buying an additional 3,122 shares during the period. Facebook accounts for about 1.3% of Advisor Partners LLC’s portfolio, making the stock its 8th largest position. Advisor Partners LLC’s holdings in Facebook were worth $4,917,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its stake in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after buying an additional 120 shares during the last quarter. Cohen Capital Management Inc. purchased a new stake in Facebook during the first quarter valued at $121,000. Cable Hill Partners LLC boosted its stake in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares during the last quarter. Viking Fund Management LLC purchased a new stake in Facebook during the first quarter valued at $142,000. Finally, State of Alaska Department of Revenue purchased a new stake in Facebook during the first quarter valued at $180,000. 57.40% of the stock is owned by institutional investors.
Facebook, Inc. (FB) traded up 0.30% during midday trading on Friday, reaching $167.41. 15,093,638 shares of the company were exchanged. The firm has a 50-day moving average price of $163.85 and a 200-day moving average price of $148.79. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49. The company has a market capitalization of $486.19 billion, a PE ratio of 37.47 and a beta of 0.70.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 44.8% on a year-over-year basis. Equities research analysts anticipate that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
A number of research firms have commented on FB. UBS AG set a $168.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Thursday, May 4th. Cowen and Company restated an “outperform” rating and set a $195.00 price objective on shares of Facebook in a research note on Thursday, August 10th. Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Robert W. Baird restated an “outperform” rating and set a $185.00 price objective (up previously from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-two have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $183.47.
In related news, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $148.03, for a total value of $2,368,480.00. Following the completion of the sale, the insider now owns 221,328 shares in the company, valued at approximately $32,763,183.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $148.54, for a total transaction of $111,405.00. Following the transaction, the vice president now owns 90,656 shares of the company’s stock, valued at approximately $13,466,042.24. The disclosure for this sale can be found here. Insiders have sold a total of 12,702,398 shares of company stock valued at $2,054,828,660 in the last 90 days. Insiders own 19.08% of the company’s stock.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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