Citizens Financial Group Inc RI decreased its position in shares of Facebook, Inc. (NASDAQ:FB) by 2.9% during the 2nd quarter, Holdings Channel reports. The fund owned 83,895 shares of the social networking company’s stock after selling 2,534 shares during the quarter. Facebook accounts for about 1.4% of Citizens Financial Group Inc RI’s investment portfolio, making the stock its 16th biggest holding. Citizens Financial Group Inc RI’s holdings in Facebook were worth $16,303,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cribstone Capital Management LLC raised its holdings in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after purchasing an additional 406 shares during the last quarter. Trust Department MB Financial Bank N A acquired a new stake in shares of Facebook in the second quarter valued at approximately $134,000. Northwest Wealth Management LLC acquired a new stake in shares of Facebook in the second quarter valued at approximately $194,000. GenWealth Group Inc. acquired a new stake in shares of Facebook in the second quarter valued at approximately $200,000. Finally, BHK Investment Advisors LLC acquired a new stake in shares of Facebook in the first quarter valued at approximately $202,000. 60.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $180.72, for a total value of $9,939,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 240,000 shares of the business’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $216.71, for a total transaction of $52,010,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 4,562,446 shares of company stock valued at $825,027,731. 17.23% of the stock is currently owned by company insiders.
Shares of Facebook stock opened at $154.05 on Friday. The stock has a market capitalization of $463.12 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 0.98 and a beta of 0.42. Facebook, Inc. has a 52-week low of $149.02 and a 52-week high of $218.62.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 25th. The social networking company reported $1.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.75 by ($0.01). The business had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $13.35 billion. Facebook had a net margin of 39.31% and a return on equity of 28.16%. The company’s revenue was up 41.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 EPS. On average, sell-side analysts forecast that Facebook, Inc. will post 7.07 EPS for the current year.
A number of brokerages recently weighed in on FB. BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a report on Saturday, June 23rd. Zacks Investment Research upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $226.00 target price on the stock in a report on Tuesday, June 26th. Macquarie restated a “buy” rating and set a $200.00 target price on shares of Facebook in a report on Wednesday, June 27th. Barclays restated a “buy” rating and set a $190.00 target price on shares of Facebook in a report on Wednesday, June 27th. Finally, Pivotal Research restated a “sell” rating and set a $138.00 target price on shares of Facebook in a report on Friday, June 29th. Four analysts have rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $205.89.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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