Apriem Advisors cut its stake in Facebook, Inc. (NASDAQ:FB) by 84.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,168 shares of the social networking company’s stock after selling 32,823 shares during the period. Apriem Advisors’ holdings in Facebook were worth $809,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Facebook by 13,908.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 70,768,412 shares of the social networking company’s stock worth $540,000 after buying an additional 70,263,213 shares in the last quarter. Polen Capital Management LLC raised its holdings in shares of Facebook by 88.2% during the 4th quarter. Polen Capital Management LLC now owns 7,354,192 shares of the social networking company’s stock worth $964,061,000 after buying an additional 3,445,879 shares in the last quarter. Altimeter Capital Management LP raised its holdings in shares of Facebook by 426.2% during the 4th quarter. Altimeter Capital Management LP now owns 3,368,000 shares of the social networking company’s stock worth $441,511,000 after buying an additional 2,727,900 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Facebook by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 31,772,199 shares of the social networking company’s stock worth $4,157,898,000 after buying an additional 2,203,076 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Facebook by 3,169.2% during the 4th quarter. Two Sigma Advisers LP now owns 2,218,150 shares of the social networking company’s stock worth $290,777,000 after buying an additional 2,150,300 shares in the last quarter. 61.76% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $164.34, for a total transaction of $9,038,700.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $161.50, for a total value of $121,125.00. Following the transaction, the vice president now directly owns 103,872 shares in the company, valued at $16,775,328. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,551,104 shares of company stock worth $275,456,299. 14.53% of the stock is owned by corporate insiders.
Shares of Facebook stock opened at $181.33 on Friday. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.38 and a current ratio of 5.38. The stock has a market cap of $517.60 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 1.08 and a beta of 0.96.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, April 24th. The social networking company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.80). Facebook had a net margin of 33.17% and a return on equity of 23.67%. The business had revenue of $15.08 billion for the quarter, compared to the consensus estimate of $14.97 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts expect that Facebook, Inc. will post 8 earnings per share for the current fiscal year.
A number of research firms have recently commented on FB. Royal Bank of Canada set a $250.00 price target on Facebook and gave the stock a “buy” rating in a report on Friday. Moffett Nathanson raised Facebook from a “neutral” rating to a “buy” rating and set a $210.00 price target for the company in a report on Tuesday. BidaskClub cut Facebook from a “buy” rating to a “hold” rating in a report on Friday, June 7th. China Renaissance Securities started coverage on Facebook in a research report on Wednesday, May 29th. They set a “buy” rating and a $245.00 price objective on the stock. Finally, Pivotal Research started coverage on Facebook in a research report on Wednesday, May 29th. They set a “buy” rating and a $220.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and forty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $210.44.
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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. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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