Facebook’s (FB) “Buy” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reissued their buy rating on shares of Facebook (NASDAQ:FB) in a report issued on Tuesday. The brokerage currently has a $215.00 price objective on the social networking company’s stock.

Several other equities research analysts have also recently weighed in on FB. Cowen reissued an outperform rating and set a $195.00 price target on shares of Facebook in a research report on Thursday, August 10th. Citigroup reaffirmed a buy rating and issued a $200.00 target price on shares of Facebook in a research report on Wednesday, September 27th. Pivotal Research cut shares of Facebook from a hold rating to a sell rating in a research report on Tuesday, August 8th. Zacks Investment Research cut shares of Facebook from a buy rating to a hold rating in a research report on Wednesday, August 9th. Finally, MKM Partners reaffirmed a buy rating and issued a $200.00 target price (up from $180.00) on shares of Facebook in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Facebook currently has a consensus rating of Buy and a consensus price target of $200.73.

Shares of Facebook (NASDAQ FB) traded down $1.14 on Tuesday, reaching $179.00. 19,377,310 shares of the company’s stock traded hands, compared to its average volume of 15,643,510. The stock has a market cap of $523,452.28, a PE ratio of 34.71, a P/E/G ratio of 1.15 and a beta of 0.69. Facebook has a fifty-two week low of $114.77 and a fifty-two week high of $184.25.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 EPS. analysts expect that Facebook will post 5.86 EPS for the current year.

In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $173.58, for a total transaction of $130,185.00. Following the sale, the vice president now owns 94,091 shares of the company’s stock, valued at approximately $16,332,315.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jan Koum sold 2,600,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $180.09, for a total transaction of $468,234,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,932,625 shares of company stock valued at $879,469,497. 17.23% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hartford Financial Management Inc. boosted its holdings in shares of Facebook by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock worth $224,000 after buying an additional 16 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings in shares of Facebook by 0.3% in the second quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock worth $876,000 after buying an additional 18 shares during the last quarter. Halbert Hargrove Russell LLC boosted its holdings in shares of Facebook by 0.5% in the second quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock worth $526,000 after buying an additional 19 shares during the last quarter. Wagner Bowman Management Corp boosted its holdings in shares of Facebook by 0.5% in the second quarter. Wagner Bowman Management Corp now owns 4,997 shares of the social networking company’s stock worth $754,000 after buying an additional 25 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its holdings in shares of Facebook by 2.1% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock worth $222,000 after buying an additional 30 shares during the last quarter. 57.86% of the stock is currently owned by hedge funds and other institutional investors.

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About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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