Aries Wealth Management boosted its position in shares of Facebook, Inc. (NASDAQ:FB) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,544 shares of the social networking company’s stock after purchasing an additional 105 shares during the period. Facebook comprises about 1.6% of Aries Wealth Management’s investment portfolio, making the stock its 14th biggest position. Aries Wealth Management’s holdings in Facebook were worth $2,761,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in FB. Watson Rebecca bought a new position in Facebook in the 2nd quarter valued at $25,000. JJJ Advisors Inc. increased its stake in shares of Facebook by 262.5% in the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after buying an additional 105 shares in the last quarter. Demars Financial Group LLC acquired a new stake in shares of Facebook in the second quarter valued at $39,000. Virtus Alternative Investment Advisers Inc. bought a new position in shares of Facebook in the second quarter valued at about $47,000. Finally, Center for Financial Planning Inc. lifted its position in Facebook by 33.9% during the 2nd quarter. Center for Financial Planning Inc. now owns 257 shares of the social networking company’s stock worth $58,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.
In other Facebook news, CAO Susan J.S. Taylor sold 1,133 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $261.39, for a total transaction of $296,154.87. Following the sale, the chief accounting officer now directly owns 4,182 shares of the company’s stock, valued at approximately $1,093,132.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer Newstead sold 194 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total transaction of $45,543.44. Following the transaction, the vice president now owns 1,918 shares of the company’s stock, valued at $450,269.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,023 shares of company stock valued at $9,420,337. 14.14% of the stock is owned by corporate insiders.
Shares of NASDAQ:FB opened at $265.93 on Friday. The firm has a market cap of $757.59 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.80 and a beta of 1.29. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $304.67. The company’s fifty day simple moving average is $268.73 and its 200 day simple moving average is $234.17.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The firm had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. Equities analysts predict that Facebook, Inc. will post 8.11 earnings per share for the current year.
A number of brokerages have weighed in on FB. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $300.00 target price (up from $290.00) on shares of Facebook in a research note on Friday, July 31st. Moffett Nathanson boosted their price objective on shares of Facebook from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Raymond James increased their price objective on Facebook from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Friday, July 31st. They noted that the move was a valuation call. Goldman Sachs Group restated a “buy” rating and set a $303.00 target price (up previously from $265.00) on shares of Facebook in a research report on Friday, July 31st. Finally, William Blair reiterated an “outperform” rating on shares of Facebook in a report on Friday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $283.11.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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