RB Capital Management LLC cut its stake in Facebook, Inc. (NASDAQ:FB) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,459 shares of the social networking company’s stock after selling 560 shares during the period. Facebook accounts for 1.9% of RB Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. RB Capital Management LLC’s holdings in Facebook were worth $2,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Whitnell & Co. acquired a new position in shares of Facebook during the fourth quarter worth approximately $26,000. Cordasco Financial Network raised its position in shares of Facebook by 70.0% during the second 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 position in shares of Facebook during the fourth quarter worth approximately $39,000. Clean Yield Group acquired a new position in shares of Facebook during the second quarter worth approximately $39,000. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of Facebook during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 62.44% of the company’s stock.
Shares of FB stock traded down $4.29 on Friday, hitting $177.75. 14,354,973 shares of the stock were exchanged, compared to its average volume of 14,590,069. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $519.35 billion, a PE ratio of 23.48, a P/E/G ratio of 1.06 and a beta of 0.99. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The firm’s 50 day moving average is $193.38 and its two-hundred day moving average is $180.93.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.09. The company had revenue of $16.89 billion during the quarter, compared to the consensus estimate of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 EPS. On average, sell-side analysts expect that Facebook, Inc. will post 8.03 earnings per share for the current year.
FB has been the topic of a number of research reports. Credit Suisse Group upped their target price on Facebook from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. China Renaissance Securities started coverage on Facebook in a research report on Wednesday, May 29th. They issued a “buy” rating and a $245.00 price target for the company. Pivotal Research reissued a “buy” rating and issued a $225.00 price target (up from $220.00) on shares of Facebook in a research report on Thursday, July 25th. SunTrust Banks reissued a “buy” rating and issued a $215.00 price target on shares of Facebook in a research report on Tuesday, July 23rd. Finally, Robert W. Baird increased their price target on Facebook from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and forty-two have assigned a buy rating to the stock. Facebook presently has a consensus rating of “Buy” and a consensus target price of $220.92.
In other news, CEO Mark Zuckerberg sold 122,375 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $184.73, for a total transaction of $22,606,333.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,134 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $185.45, for a total value of $210,300.30. Following the transaction, the chief accounting officer now owns 1,037 shares of the company’s stock, valued at approximately $192,311.65. The disclosure for this sale can be found here. Insiders have sold a total of 1,337,995 shares of company stock valued at $248,254,692 in the last quarter. 14.53% of the stock is owned by corporate insiders.
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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