Main Street Research LLC Has $19.04 Million Position in Facebook, Inc. (NASDAQ:FB)

Main Street Research LLC boosted its position in Facebook, Inc. (NASDAQ:FB) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,113 shares of the social networking company’s stock after buying an additional 4,519 shares during the period. Facebook accounts for 3.1% of Main Street Research LLC’s investment portfolio, making the stock its 3rd largest position. Main Street Research LLC’s holdings in Facebook were worth $19,041,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FB. North Star Investment Management Corp. increased its stake in Facebook by 19.4% in the second quarter. North Star Investment Management Corp. now owns 9,900 shares of the social networking company’s stock worth $1,495,000 after buying an additional 1,610 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Facebook by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 146,600 shares of the social networking company’s stock worth $22,134,000 after buying an additional 1,800 shares during the last quarter. Jarislowsky Fraser Ltd increased its stake in Facebook by 11.8% in the second quarter. Jarislowsky Fraser Ltd now owns 2,175 shares of the social networking company’s stock worth $328,000 after buying an additional 230 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Facebook by 1.4% in the second quarter. Nisa Investment Advisors LLC now owns 600,025 shares of the social networking company’s stock worth $90,640,000 after buying an additional 8,394 shares during the last quarter. Finally, Bartlett & Co. LLC increased its stake in Facebook by 6.4% in the second quarter. Bartlett & Co. LLC now owns 2,506 shares of the social networking company’s stock worth $378,000 after buying an additional 150 shares during the last quarter. 57.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of Facebook, Inc. (NASDAQ FB) traded up 0.30% during mid-day trading on Friday, hitting $167.41. The company had a trading volume of 15,093,638 shares. The company has a market cap of $486.19 billion, a PE ratio of 37.47 and a beta of 0.70. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49. The firm has a 50-day moving average of $163.85 and a 200-day moving average of $148.79.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm’s revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, analysts expect that Facebook, Inc. will post $5.33 EPS for the current year.

TRADEMARK VIOLATION WARNING: This story was originally posted by BNB Daily and is the sole property of of BNB Daily. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.baseball-news-blog.com/2017/08/19/main-street-research-llc-raises-position-in-facebook-inc-nasdaqfb-updated-updated.html.

A number of research firms have recently issued reports on FB. William Blair reiterated an “outperform” rating on shares of Facebook in a research note on Saturday, April 22nd. Instinet reiterated a “buy” rating and issued a $165.00 target price on shares of Facebook in a research note on Saturday, April 22nd. Macquarie reiterated an “outperform” rating and issued a $160.00 target price on shares of Facebook in a research note on Saturday, April 22nd. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $180.00 target price on shares of Facebook in a research note on Friday, April 21st. Finally, Raymond James Financial, Inc. restated a “strong-buy” rating on shares of Facebook in a research report on Friday, April 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-two have issued a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $183.47.

In other Facebook news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $148.03, for a total transaction of $2,368,480.00. Following the transaction, the insider now owns 221,328 shares of the company’s stock, valued at approximately $32,763,183.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $148.54, for a total value of $111,405.00. Following the sale, the vice president now owns 90,656 shares in the company, valued at $13,466,042.24. The disclosure for this sale can be found here. Insiders have sold 12,702,398 shares of company stock valued at $2,054,828,660 over the last 90 days. 19.08% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply