Parsons Capital Management Inc. RI decreased its position in Facebook, Inc. (NASDAQ:FB) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,166 shares of the social networking company’s stock after selling 191 shares during the period. Parsons Capital Management Inc. RI’s holdings in Facebook were worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Whitnell & Co. acquired a new stake in Facebook during the 4th quarter worth about $26,000. Cordasco Financial Network grew its position in Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after purchasing an additional 70 shares during the period. Signet Investment Advisory Group Inc. acquired a new stake in Facebook during the 4th quarter worth about $39,000. Clean Yield Group acquired a new stake in Facebook during the 2nd quarter worth about $39,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in Facebook during the 2nd quarter worth about $41,000. Institutional investors own 62.11% of the company’s stock.
Facebook stock traded up $1.11 during midday trading on Friday, reaching $183.70. The company had a trading volume of 12,654,600 shares, compared to its average volume of 17,575,930. The company has a market capitalization of $524.09 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.05 and a beta of 0.99. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $208.66. The firm’s fifty day simple moving average is $194.93 and its 200-day simple moving average is $180.55. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. The firm had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. Facebook’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the company posted $1.74 EPS. On average, analysts expect that Facebook, Inc. will post 7.96 EPS for the current fiscal year.
In other Facebook news, insider Susan J.S. Taylor sold 1,472 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $181.89, for a total value of $267,742.08. Following the transaction, the insider now directly owns 569 shares of the company’s stock, valued at approximately $103,495.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO David B. Fischer sold 11,572 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $180.28, for a total transaction of $2,086,200.16. The disclosure for this sale can be found here. Insiders sold a total of 863,283 shares of company stock worth $160,819,836 over the last ninety days. 14.53% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on FB shares. BMO Capital Markets cut their price target on Facebook to $195.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. Pivotal Research reaffirmed a “buy” rating and set a $225.00 price target (up from $220.00) on shares of Facebook in a research report on Thursday, July 25th. Morgan Stanley increased their price target on Facebook from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Robert W. Baird increased their price target on Facebook from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, DZ Bank raised Facebook from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have assigned a buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and an average price target of $220.92.
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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