WealthPLAN Partners LLC raised its holdings in Facebook, Inc. (NASDAQ:FB) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,031 shares of the social networking company’s stock after buying an additional 399 shares during the quarter. WealthPLAN Partners LLC’s holdings in Facebook were worth $9,869,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of FB. SB Management Ltd purchased a new position in Facebook during the third quarter valued at $2,222,276,000. UBS Asset Management Americas Inc. raised its stake in Facebook by 15.0% during the third quarter. UBS Asset Management Americas Inc. now owns 12,282,314 shares of the social networking company’s stock valued at $3,216,738,000 after buying an additional 1,598,856 shares during the last quarter. CIBC World Markets Inc. raised its stake in Facebook by 128.4% during the fourth quarter. CIBC World Markets Inc. now owns 1,960,659 shares of the social networking company’s stock valued at $535,574,000 after buying an additional 1,102,252 shares during the last quarter. Morgan Stanley raised its stake in Facebook by 5.5% during the third quarter. Morgan Stanley now owns 21,019,784 shares of the social networking company’s stock valued at $5,505,081,000 after buying an additional 1,098,694 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Facebook by 11.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,775,009 shares of the social networking company’s stock valued at $2,560,074,000 after buying an additional 1,013,956 shares during the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.
In other Facebook news, CAO Susan J.S. Taylor sold 2,707 shares of the company’s stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $269.47, for a total transaction of $729,455.29. Following the sale, the chief accounting officer now directly owns 3,147 shares in the company, valued at $848,022.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 44,750 shares of the company’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $263.83, for a total value of $11,806,392.50. The disclosure for this sale can be found here. Insiders sold 1,384,833 shares of company stock worth $374,590,627 over the last quarter. 14.14% of the stock is owned by company insiders.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, January 27th. The social networking company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.64. The company had revenue of $28.10 million for the quarter, compared to the consensus estimate of $26.43 billion. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.56 earnings per share. As a group, equities research analysts anticipate that Facebook, Inc. will post 9.39 EPS for the current fiscal year.
A number of brokerages have issued reports on FB. Pivotal Research lifted their price objective on Facebook from $315.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, January 28th. Canaccord Genuity boosted their price target on Facebook from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Moffett Nathanson boosted their price target on Facebook from $285.00 to $325.00 in a research note on Friday, January 15th. Oppenheimer boosted their price target on Facebook from $345.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. Finally, Citigroup boosted their price target on Facebook from $315.00 to $320.00 in a research note on Monday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $323.98.
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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