Alps Advisors Inc. grew its stake in Facebook, Inc. (NASDAQ:FB) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,017 shares of the social networking company’s stock after buying an additional 786 shares during the quarter. Alps Advisors Inc.’s holdings in Facebook were worth $6,222,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Facebook by 2.0% in the first quarter. BlackRock Inc. now owns 149,137,226 shares of the social networking company’s stock worth $23,830,637,000 after purchasing an additional 2,966,437 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Facebook by 9.9% in the second quarter. Jennison Associates LLC now owns 15,147,053 shares of the social networking company’s stock worth $2,943,375,000 after purchasing an additional 1,360,607 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Facebook by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 12,937,287 shares of the social networking company’s stock worth $2,067,249,000 after purchasing an additional 58,561 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Facebook by 4,170.3% in the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock worth $9,071,000 after purchasing an additional 8,858,520 shares in the last quarter. Finally, Edgewood Management LLC lifted its position in shares of Facebook by 14.7% in the first quarter. Edgewood Management LLC now owns 8,443,014 shares of the social networking company’s stock worth $1,349,109,000 after purchasing an additional 1,083,036 shares in the last quarter. Institutional investors own 60.25% of the company’s stock.
A number of analysts have recently commented on FB shares. Raymond James lowered shares of Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price objective on the stock. in a research report on Thursday, July 26th. Royal Bank of Canada reissued a “buy” rating and issued a $195.00 price objective on shares of Facebook in a research report on Monday, September 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $202.00 price objective on shares of Facebook in a research report on Thursday, August 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Facebook from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 18th. Finally, MKM Partners dropped their price target on shares of Facebook to $230.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and an average target price of $194.54.
Shares of FB opened at $149.94 on Wednesday. The stock has a market capitalization of $436.77 billion, a PE ratio of 24.34, a P/E/G ratio of 0.92 and a beta of 0.55. Facebook, Inc. has a fifty-two week low of $139.03 and a fifty-two week high of $218.62.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The business had revenue of $13.73 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the company posted $1.59 earnings per share. Facebook’s revenue was up 32.9% compared to the same quarter last year. On average, sell-side analysts predict that Facebook, Inc. will post 7.3 EPS for the current fiscal year.
In other Facebook news, CEO Mark Zuckerberg sold 420,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $182.64, for a total transaction of $76,708,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 3,300 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $150.09, for a total transaction of $495,297.00. Following the sale, the insider now owns 115,837 shares in the company, valued at $17,385,975.33. The disclosure for this sale can be found here. Insiders sold 2,990,832 shares of company stock worth $525,285,785 over the last 90 days. 16.25% of the stock is currently owned by corporate insiders.
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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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