Strategic Investment Advisors MI trimmed its holdings in Facebook, Inc. (NASDAQ:FB) by 14.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,297 shares of the social networking company’s stock after selling 380 shares during the quarter. Strategic Investment Advisors MI’s holdings in Facebook were worth $624,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of Facebook by 14.1% in the 1st quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock valued at $8,604,068,000 after acquiring an additional 6,394,036 shares in the last quarter. Copper Rock Capital Partners LLC raised its position in shares of Facebook by 6,224.9% in the second 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 during the period. Public Investment Fund acquired a new stake in shares of Facebook in the first quarter worth $521,859,000. GQG Partners LLC bought a new stake in shares of Facebook during the 2nd quarter worth $590,767,000. Finally, Bank of New York Mellon Corp grew its stake in Facebook by 11.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 24,179,742 shares of the social networking company’s stock valued at $5,490,495,000 after buying an additional 2,431,190 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Canaccord Genuity restated a “buy” rating and set a $290.00 price target (up from $275.00) on shares of Facebook in a report on Friday, July 31st. Raymond James raised their target price on Facebook from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, July 31st. They noted that the move was a valuation call. JMP Securities upped their price target on Facebook from $250.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Royal Bank of Canada increased their price objective on Facebook from $271.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, MKM Partners boosted their target price on shares of Facebook from $240.00 to $290.00 in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $283.11.
Shares of FB opened at $265.93 on Friday. The company has a market capitalization of $757.59 billion, a P/E ratio of 32.47, a PEG ratio of 1.80 and a beta of 1.29. Facebook, Inc. has a one year low of $137.10 and a one year high of $304.67. The business’s 50 day simple moving average is $268.73 and its 200-day simple moving average is $234.17.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.36. Facebook had a return on equity of 22.90% and a net margin of 31.29%. The company had revenue of $18.69 billion for the quarter, compared to analyst estimates of $17.29 billion. Sell-side analysts anticipate that Facebook, Inc. will post 8.11 EPS for the current fiscal year.
In other Facebook news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total value of $47,766.68. Following the completion of the transaction, the vice president now directly owns 2,112 shares of the company’s stock, valued at $520,016.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Michael Todd Schroepfer sold 112 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $262.09, for a total transaction of $29,354.08. Following the transaction, the chief technology officer now owns 498,238 shares in the company, valued at $130,583,197.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,023 shares of company stock worth $9,420,337. 14.14% of the stock is owned by corporate insiders.
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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