Martin Investment Management LLC raised its position in Facebook, Inc. (NASDAQ:FB) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,990 shares of the social networking company’s stock after acquiring an additional 498 shares during the quarter. Facebook makes up approximately 3.1% of Martin Investment Management LLC’s portfolio, making the stock its 9th biggest position. Martin Investment Management LLC’s holdings in Facebook were worth $7,491,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Watson Rebecca acquired a new position in shares of Facebook during the second quarter worth about $25,000. JJJ Advisors Inc. grew its position in shares of Facebook by 262.5% during the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after buying an additional 105 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in Facebook during the first quarter worth approximately $41,000. Elmwood Wealth Management Inc. purchased a new stake in Facebook during the first quarter worth approximately $46,000. Finally, NuWave Investment Management LLC lifted its stake in Facebook by 1,019.2% during the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after purchasing an additional 265 shares during the last quarter. 65.12% of the stock is owned by institutional investors and hedge funds.
Shares of FB stock opened at $253.67 on Friday. The business’s fifty day moving average price is $235.27 and its 200 day moving average price is $207.59. Facebook, Inc. has a 1-year low of $137.10 and a 1-year high of $255.85. The firm has a market capitalization of $668.11 billion, a PE ratio of 30.97, a P/E/G ratio of 1.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The firm had revenue of $18.69 billion for the quarter, compared to analyst estimates of $17.29 billion. Equities research analysts expect that Facebook, Inc. will post 7.36 earnings per share for the current fiscal year.
FB has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and set a $300.00 target price (up previously from $250.00) on shares of Facebook in a research note on Monday, July 27th. BofA Securities boosted their target price on Facebook from $265.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday. Loop Capital boosted their target price on Facebook from $215.00 to $265.00 in a research note on Friday, May 15th. Mizuho boosted their target price on Facebook from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Pivotal Research boosted their target price on Facebook from $225.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $273.37.
In other Facebook news, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $207.43, for a total value of $40,241.42. Following the sale, the vice president now owns 406 shares of the company’s stock, valued at $84,216.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,195 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $223.39, for a total value of $266,951.05. Following the completion of the sale, the chief accounting officer now directly owns 3,147 shares in the company, valued at approximately $703,008.33. The disclosure for this sale can be found here. Insiders have sold 68,591 shares of company stock worth $14,894,825 in the last ninety days. 14.14% of the stock is currently owned by corporate insiders.
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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