DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Facebook, Inc. (NASDAQ:FB) by 2.5% in the fourth quarter, Holdings Channel reports. The fund owned 11,156 shares of the social networking company’s stock after buying an additional 276 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Facebook were worth $2,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Financial Advantage Inc. bought a new stake in shares of Facebook during the third quarter worth $28,000. American National Bank acquired a new position in shares of Facebook during the fourth quarter valued at $41,000. Winthrop Partners WNY LLC bought a new position in Facebook in the third quarter valued at about $58,000. AlphaMark Advisors LLC boosted its holdings in Facebook by 20.8% in the third quarter. AlphaMark Advisors LLC now owns 465 shares of the social networking company’s stock valued at $83,000 after acquiring an additional 80 shares during the last quarter. Finally, Personal Wealth Partners boosted its holdings in Facebook by 12.9% in the third quarter. Personal Wealth Partners now owns 481 shares of the social networking company’s stock valued at $86,000 after acquiring an additional 55 shares during the last quarter. 63.86% of the stock is currently owned by institutional investors.
FB has been the subject of several recent research reports. Barclays dropped their price objective on Facebook from $240.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. SunTrust Banks raised their target price on shares of Facebook from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “buy” rating and issued a $250.00 target price on shares of Facebook in a research note on Thursday, October 31st. Credit Suisse Group reiterated an “outperform” rating and set a $270.00 price target (up previously from $260.00) on shares of Facebook in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $255.00 price target on shares of Facebook in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $238.81.
In other Facebook news, VP Jennifer Newstead sold 260 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $197.40, for a total value of $51,324.00. Following the sale, the vice president now owns 6,717 shares in the company, valued at approximately $1,325,935.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO David B. Fischer sold 5,562 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $196.60, for a total value of $1,093,489.20. The disclosure for this sale can be found here. Insiders have sold 914,700 shares of company stock valued at $174,758,883 in the last three months. 14.53% of the stock is owned by insiders.
NASDAQ FB opened at $221.44 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66. The stock has a market cap of $633.49 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 1.17 and a beta of 1.05. The business has a 50 day simple moving average of $208.20 and a 200 day simple moving average of $194.56. Facebook, Inc. has a 52-week low of $142.52 and a 52-week high of $222.38.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.21. The firm had revenue of $17.65 billion for the quarter, compared to analyst estimates of $17.35 billion. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The business’s revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. On average, analysts predict that Facebook, Inc. will post 8.5 EPS for the current year.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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