State of New Jersey Common Pension Fund D decreased its position in Facebook, Inc. (NASDAQ:FB) by 5.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,430,000 shares of the social networking company’s stock after selling 200,000 shares during the period. Facebook accounts for about 2.1% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 4th biggest position. State of New Jersey Common Pension Fund D owned approximately 0.12% of Facebook worth $517,861,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI boosted its holdings in shares of Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after purchasing an additional 120 shares during the period. D. Scott Neal Inc. boosted its holdings in shares of Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in shares of Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the period. Pacific Center for Financial Services boosted its holdings in shares of Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares during the period. Finally, Watermark Asset Management Inc. purchased a new stake in shares of Facebook in the first quarter valued at approximately $141,000. Hedge funds and other institutional investors own 57.26% of the company’s stock.
Facebook, Inc. (NASDAQ FB) opened at 172.55 on Friday. The firm has a market cap of $501.12 billion, a P/E ratio of 38.62 and a beta of 0.70. The firm has a 50 day moving average of $170.39 and a 200 day moving average of $158.07. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities research analysts expect that Facebook, Inc. will post $5.34 EPS for the current year.
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FB has been the subject of a number of research reports. Oppenheimer Holdings, Inc. boosted their price target on Facebook from $170.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. JMP Securities restated an “outperform” rating and set a $195.00 target price (up previously from $170.00) on shares of Facebook in a report on Thursday, July 27th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Monday, August 28th. BidaskClub upgraded Facebook from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Robert W. Baird restated a “buy” rating and set a $185.00 target price on shares of Facebook in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $185.38.
In related news, Director Jan Koum sold 3,600,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total transaction of $576,216,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $164.28, for a total transaction of $2,628,480.00. Following the sale, the insider now directly owns 196,871 shares of the company’s stock, valued at $32,341,967.88. The disclosure for this sale can be found here. Insiders sold 9,024,241 shares of company stock valued at $1,499,994,651 in the last three months. Company insiders own 19.08% of the company’s stock.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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