Triangle Securities Wealth Management Increases Stake in Facebook, Inc. (NASDAQ:FB)

Triangle Securities Wealth Management lifted its stake in Facebook, Inc. (NASDAQ:FB) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,863 shares of the social networking company’s stock after purchasing an additional 54 shares during the quarter. Triangle Securities Wealth Management’s holdings in Facebook were worth $1,990,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FB. Amundi acquired a new position in Facebook in the 2nd quarter worth approximately $1,797,555,000. Macquarie Group Ltd. increased its holdings in Facebook by 664.2% in the 2nd quarter. Macquarie Group Ltd. now owns 4,442,933 shares of the social networking company’s stock worth $1,544,853,000 after buying an additional 3,861,530 shares during the period. FMR LLC increased its holdings in Facebook by 1.7% in the 2nd quarter. FMR LLC now owns 127,113,861 shares of the social networking company’s stock worth $44,198,761,000 after buying an additional 2,129,463 shares during the period. Lord Abbett & CO. LLC increased its holdings in Facebook by 621.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,598,599 shares of the social networking company’s stock worth $555,849,000 after buying an additional 1,377,049 shares during the period. Finally, Marshall Wace North America L.P. increased its holdings in Facebook by 146.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 2,284,360 shares of the social networking company’s stock worth $794,294,000 after buying an additional 1,357,667 shares during the period. 65.74% of the stock is owned by hedge funds and other institutional investors.

In other Facebook news, insider Jennifer Newstead sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was sold at an average price of $338.82, for a total value of $84,705.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Susan J.S. Taylor sold 1,378 shares of the company’s stock in a transaction that occurred on Wednesday, November 17th. The stock was sold at an average price of $344.22, for a total value of $474,335.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,893,113 shares of company stock valued at $660,001,361. 14.01% of the stock is owned by company insiders.

A number of brokerages have recently commented on FB. Oppenheimer raised their price objective on shares of Facebook from $375.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Raymond James dropped their price objective on shares of Facebook from $450.00 to $410.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 26th. They noted that the move was a valuation call. Evercore ISI reaffirmed a “buy” rating and set a $430.00 price objective on shares of Facebook in a research note on Sunday, October 31st. DZ Bank cut shares of Facebook from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Tuesday, October 5th. Finally, The Goldman Sachs Group set a $445.00 price target on shares of Facebook in a research note on Tuesday, October 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $398.00.

Shares of Facebook stock opened at $341.06 on Thursday. Facebook, Inc. has a one year low of $244.61 and a one year high of $384.33. The company has a market cap of $948.75 billion, a PE ratio of 24.34, a P/E/G ratio of 1.22 and a beta of 1.27. The business has a 50-day simple moving average of $336.80 and a 200-day simple moving average of $344.31.

Facebook (NASDAQ:FB) last posted its earnings results on Sunday, October 24th. The social networking company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.03. The firm had revenue of $29.01 billion during the quarter, compared to analysts’ expectations of $29.52 billion. Facebook had a return on equity of 30.22% and a net margin of 35.88%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. On average, analysts forecast that Facebook, Inc. will post 13.96 EPS for the current year.

About Facebook

Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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