Cornerstone Capital Inc. grew its stake in shares of Facebook Inc (NASDAQ:FB) by 36.1% during the third quarter, HoldingsChannel reports. The firm owned 2,979 shares of the social networking company’s stock after buying an additional 790 shares during the period. Cornerstone Capital Inc.’s holdings in Facebook were worth $509,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the last quarter. BlackRock Inc. increased its position in shares of Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the last quarter. Capital World Investors increased its position in shares of Facebook by 1.5% during the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after acquiring an additional 833,810 shares during the last quarter. Northern Trust Corp increased its position in shares of Facebook by 0.4% during the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after acquiring an additional 114,694 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Facebook by 6.4% during the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock worth $3,070,470,000 after acquiring an additional 1,219,412 shares during the last quarter. Institutional investors own 57.32% of the company’s stock.
Several analysts recently weighed in on FB shares. Monness Crespi & Hardt raised Facebook from a “neutral” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, October 27th. Wedbush set a $225.00 price objective on Facebook and gave the company a “buy” rating in a report on Monday, October 30th. Cantor Fitzgerald reissued a “buy” rating and issued a $190.00 price objective on shares of Facebook in a report on Tuesday, October 31st. Aegis boosted their price objective on Facebook from $200.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Royal Bank of Canada boosted their price objective on Facebook from $195.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $214.70.
Facebook Inc (NASDAQ:FB) opened at $177.91 on Thursday. The stock has a market capitalization of $511,309.03, a P/E ratio of 28.62, a PEG ratio of 0.91 and a beta of 0.59. Facebook Inc has a 52-week low of $133.46 and a 52-week high of $195.32.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.24. The business had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. research analysts expect that Facebook Inc will post 7.28 EPS for the current fiscal year.
In other news, CEO Mark Zuckerberg sold 232,138 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $183.08, for a total transaction of $42,499,825.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $176.85, for a total value of $2,829,600.00. Following the transaction, the insider now owns 48,407 shares of the company’s stock, valued at $8,560,777.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,762,530 shares of company stock valued at $490,711,179. Insiders own 17.23% of the company’s stock.
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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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