Pinnacle Wealth Planning Services Inc. purchased a new position in Facebook, Inc. (NASDAQ:FB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,419 shares of the social networking company’s stock, valued at approximately $251,000.
Other hedge funds have also bought and sold shares of the company. Country Trust Bank raised its holdings in shares of Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after acquiring an additional 479 shares in the last quarter. Armbruster Capital Management Inc. raised its holdings in shares of Facebook by 358.4% during the 4th quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock worth $101,000 after acquiring an additional 448 shares in the last quarter. Taylor Hoffman Wealth Management purchased a new stake in shares of Facebook during the 4th quarter worth approximately $103,000. Price Wealth Management Inc. purchased a new stake in shares of Facebook during the 4th quarter worth approximately $105,000. Finally, Goodman Financial Corp purchased a new stake in shares of Facebook during the 4th quarter worth approximately $115,000. Institutional investors and hedge funds own 59.34% of the company’s stock.
In other Facebook news, VP David B. Fischer sold 18,096 shares of the stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $185.88, for a total value of $3,363,684.48. Following the sale, the vice president now owns 95,365 shares in the company, valued at $17,726,446.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Colin Stretch sold 16,500 shares of the stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $174.30, for a total value of $2,875,950.00. Following the completion of the sale, the vice president now owns 94,344 shares in the company, valued at approximately $16,444,159.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,137,304 shares of company stock worth $2,146,256,181. Insiders own 17.23% of the company’s stock.
FB stock opened at $184.92 on Friday. Facebook, Inc. has a twelve month low of $144.56 and a twelve month high of $195.32. The firm has a market capitalization of $540.13 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, April 25th. The social networking company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.44. Facebook had a return on equity of 27.74% and a net margin of 40.03%. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $11.41 billion. During the same quarter last year, the firm posted $1.04 earnings per share. The business’s revenue was up 49.0% compared to the same quarter last year. sell-side analysts expect that Facebook, Inc. will post 7.64 EPS for the current year.
Several analysts have recently issued reports on the company. BidaskClub raised Facebook from a “sell” rating to a “hold” rating in a report on Thursday, April 12th. ValuEngine cut Facebook from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Raymond James upped their price objective on Facebook from $230.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 26th. Barclays upped their price objective on Facebook from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. set a $242.00 price objective on Facebook and gave the stock a “buy” rating in a report on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, forty have given a buy rating and two have issued a strong buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and an average target price of $217.37.
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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