Liberty Capital Management Inc. raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 88.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,340 shares of the social networking company’s stock after purchasing an additional 1,096 shares during the period. Liberty Capital Management Inc.’s holdings in Facebook were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Facebook by 0.8% during the second quarter. Northern Trust Corp now owns 26,909,979 shares of the social networking company’s stock worth $5,229,147,000 after purchasing an additional 224,531 shares during the period. Bank of New York Mellon Corp boosted its position in Facebook by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 22,102,171 shares of the social networking company’s stock worth $4,294,895,000 after purchasing an additional 184,595 shares during the period. Jennison Associates LLC boosted its position in Facebook by 9.9% during the second quarter. Jennison Associates LLC now owns 15,147,053 shares of the social networking company’s stock worth $2,943,375,000 after purchasing an additional 1,360,607 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Facebook by 4.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 8,774,424 shares of the social networking company’s stock worth $1,705,047,000 after purchasing an additional 337,909 shares during the period. Finally, Swiss National Bank boosted its position in Facebook by 3.5% during the second quarter. Swiss National Bank now owns 8,141,500 shares of the social networking company’s stock worth $1,582,056,000 after purchasing an additional 271,900 shares during the period. Institutional investors own 58.12% of the company’s stock.
FB has been the subject of a number of research reports. Aegis lifted their target price on Facebook from $206.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Stifel Nicolaus dropped their price target on Facebook from $202.00 to $186.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. BidaskClub raised Facebook from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 11th. dropped their price target on Facebook from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Monday, October 15th. Finally, Rosenblatt Securities began coverage on Facebook in a research note on Tuesday, October 16th. They issued a “buy” rating and a $213.00 price target for the company. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and forty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $190.62.
Shares of FB stock traded up $0.95 on Friday, hitting $167.33. 12,484,717 shares of the stock were exchanged, compared to its average volume of 23,352,992. The company has a market capitalization of $486.09 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.98 and a beta of 0.93. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.20. The company had revenue of $16.91 billion during the quarter, compared to the consensus estimate of $16.40 billion. Facebook had a return on equity of 27.51% and a net margin of 39.60%. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 EPS. On average, analysts predict that Facebook, Inc. will post 7.55 EPS for the current fiscal year.
In other Facebook news, CFO David M. Wehner sold 4,761 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $165.59, for a total value of $788,373.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $171.21, for a total value of $128,407.50. Following the completion of the sale, the vice president now directly owns 93,930 shares in the company, valued at approximately $16,081,755.30. The disclosure for this sale can be found here. Insiders have sold a total of 453,313 shares of company stock worth $63,751,782 in the last three months. 16.25% of the stock is currently owned by insiders.
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Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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