MetLife Investment Advisors LLC trimmed its holdings in Facebook, Inc. (NASDAQ:FB) by 1.3% during the 1st quarter, HoldingsChannel reports. The fund owned 678,108 shares of the social networking company’s stock after selling 8,922 shares during the period. Facebook accounts for about 0.7% of MetLife Investment Advisors LLC’s portfolio, making the stock its 10th largest position. MetLife Investment Advisors LLC’s holdings in Facebook were worth $113,034,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. lifted its position in shares of Facebook by 153.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 200 shares of the social networking company’s stock worth $26,000 after buying an additional 121 shares in the last quarter. Whitnell & Co. purchased a new stake in shares of Facebook in the fourth quarter worth about $26,000. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Facebook in the fourth quarter worth about $31,000. Signet Investment Advisory Group Inc. bought a new stake in Facebook during the fourth quarter worth approximately $39,000. Finally, Ruggie Capital Group increased its stake in Facebook by 53.8% during the fourth quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock worth $58,000 after acquiring an additional 156 shares during the last quarter. Institutional investors and hedge funds own 61.73% of the company’s stock.
In related news, CEO Mark Zuckerberg sold 255,050 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $176.27, for a total value of $44,957,663.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Colin Stretch sold 750 shares of the 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 completion of the transaction, the vice president now directly owns 103,872 shares in the company, valued at approximately $16,775,328. The disclosure for this sale can be found here. In the last three months, insiders sold 1,551,104 shares of company stock worth $275,456,299. 14.53% of the stock is owned by insiders.
Several equities research analysts have weighed in on FB shares. BidaskClub cut Facebook from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Zacks Investment Research cut Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Canaccord Genuity boosted their price objective on Facebook from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. KeyCorp boosted their price objective on Facebook from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Guggenheim raised Facebook from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $200.00 in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $210.44.
Shares of NASDAQ:FB opened at $184.63 on Monday. Facebook, Inc. has a 52-week low of $123.02 and a 52-week high of $218.62. The company has a market capitalization of $517.60 billion, a P/E ratio of 23.95, a PEG ratio of 1.12 and a beta of 0.96. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.08.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.80). Facebook had a return on equity of 23.67% and a net margin of 33.17%. The firm had revenue of $15.08 billion during the quarter, compared to the consensus estimate of $14.97 billion. During the same period last year, the company earned $1.69 EPS. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, equities research analysts predict that Facebook, Inc. will post 8 earnings per share for the current fiscal year.
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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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