Granite Investment Advisors LLC lifted its stake in Facebook, Inc. (NASDAQ:FB) by 7.9% in the first quarter, Holdings Channel.com reports. The firm owned 13,082 shares of the social networking company’s stock after buying an additional 963 shares during the period. Granite Investment Advisors LLC’s holdings in Facebook were worth $2,182,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. RBF Capital LLC lifted its holdings in shares of Facebook by 0.8% in the 1st quarter. RBF Capital LLC now owns 87,400 shares of the social networking company’s stock worth $14,578,000 after buying an additional 700 shares during the period. EP Wealth Advisors LLC raised its position in shares of Facebook by 4.0% in the 1st quarter. EP Wealth Advisors LLC now owns 112,968 shares of the social networking company’s stock worth $18,843,000 after acquiring an additional 4,353 shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in Facebook by 15.3% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 9,114 shares of the social networking company’s stock valued at $1,520,000 after buying an additional 1,207 shares in the last quarter. Lone Pine Capital LLC increased its position in Facebook by 3.1% during the 1st quarter. Lone Pine Capital LLC now owns 3,532,011 shares of the social networking company’s stock valued at $589,139,000 after buying an additional 106,113 shares in the last quarter. Finally, Old Well Partners LLC increased its holdings in shares of Facebook by 38.6% in the first quarter. Old Well Partners LLC now owns 5,750 shares of the social networking company’s stock valued at $959,000 after purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors own 65.14% of the company’s stock.
Facebook stock traded up $4.69 during midday trading on Tuesday, reaching $243.92. The stock had a trading volume of 19,988,180 shares, compared to its average volume of 20,869,954. The firm’s fifty day simple moving average is $224.28 and its two-hundred day simple moving average is $201.51. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $241.21. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. The firm has a market cap of $681.56 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 1.73 and a beta of 1.17.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, April 29th. The social networking company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.07). The firm had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.25 billion. Facebook had a return on equity of 21.54% and a net margin of 28.57%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. As a group, sell-side analysts predict that Facebook, Inc. will post 7.27 EPS for the current fiscal year.
In other Facebook news, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the sale, the executive now directly owns 57,503 shares in the company, valued at approximately $11,804,790.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $237.14, for a total transaction of $46,005.16. Following the completion of the sale, the vice president now owns 3,082 shares in the company, valued at $730,865.48. The disclosure for this sale can be found here. Insiders have sold a total of 68,882 shares of company stock worth $14,906,392 in the last 90 days. 14.14% of the stock is owned by insiders.
FB has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Facebook from $215.00 to $240.00 in a research note on Thursday, April 30th. Stifel Nicolaus increased their price target on Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Rosenblatt Securities raised their target price on Facebook from $223.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. MKM Partners raised their target price on Facebook from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Loop Capital raised their price target on Facebook from $215.00 to $265.00 in a research report on Friday, May 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. Facebook has a consensus rating of “Buy” and a consensus target price of $244.40.
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.
Featured Story: S&P/TSX Index
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.