Atalanta Sosnoff Capital LLC reduced its position in shares of Facebook, Inc. (NASDAQ:FB) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,456 shares of the social networking company’s stock after selling 20,860 shares during the period. Facebook makes up approximately 3.1% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 4th largest position. Atalanta Sosnoff Capital LLC’s holdings in Facebook were worth $108,808,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Capital International Investors raised its position in Facebook by 14.1% in the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after acquiring an additional 6,394,036 shares in the last quarter. Copper Rock Capital Partners LLC increased its holdings in shares of Facebook by 6,224.9% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock valued at $821,695,000 after purchasing an additional 3,897,184 shares in the last quarter. Public Investment Fund acquired a new stake in shares of Facebook in the first quarter valued at about $521,859,000. GQG Partners LLC purchased a new stake in Facebook during the second quarter worth about $590,767,000. Finally, Bank of New York Mellon Corp grew its position in Facebook by 11.2% during the second quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock worth $5,490,495,000 after buying an additional 2,431,190 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.
A number of equities research analysts have recently issued reports on FB shares. Rosenblatt Securities lifted their price target on shares of Facebook from $315.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Robert W. Baird boosted their target price on Facebook from $240.00 to $300.00 in a research report on Thursday, June 25th. UBS Group raised their price target on Facebook from $242.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Morgan Stanley boosted their price objective on shares of Facebook from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Finally, Royal Bank of Canada raised their target price on shares of Facebook from $271.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 31st. One investment 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 issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $283.11.
In other news, CRO David B. Fischer sold 13,110 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $293.95, for a total value of $3,853,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Wehner sold 1,832 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $261.39, for a total value of $478,866.48. Following the sale, the chief financial officer now owns 22,372 shares in the company, valued at $5,847,817.08. The disclosure for this sale can be found here. Insiders sold 34,023 shares of company stock valued at $9,420,337 in the last three months. Company insiders own 14.14% of the company’s stock.
Shares of NASDAQ:FB opened at $265.93 on Friday. The business has a 50-day moving average of $268.73 and a two-hundred day moving average of $234.17. The firm has a market capitalization of $757.59 billion, a PE ratio of 32.47, a P/E/G 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.
Facebook (NASDAQ:FB) last posted its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 22.90%. The firm had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. As a group, research analysts predict that Facebook, Inc. will post 8.11 EPS for the current year.
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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