Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,312 shares of the social networking company’s stock after buying an additional 133 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings in Facebook were worth $198,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in shares of Facebook in the first quarter valued at approximately $180,000. Motco boosted its holdings in shares of Facebook by 3.3% in the first quarter. Motco now owns 34,510 shares of the social networking company’s stock valued at $4,902,000 after purchasing an additional 1,089 shares during the period. Hermes Investment Management Ltd. boosted its holdings in shares of Facebook by 31.9% in the first quarter. Hermes Investment Management Ltd. now owns 636,897 shares of the social networking company’s stock valued at $90,471,000 after purchasing an additional 154,146 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Facebook by 13.9% in the first quarter. Retirement Systems of Alabama now owns 1,708,300 shares of the social networking company’s stock valued at $242,664,000 after purchasing an additional 208,108 shares during the period. Finally, Navellier & Associates Inc boosted its holdings in shares of Facebook by 2.9% in the first quarter. Navellier & Associates Inc now owns 79,570 shares of the social networking company’s stock valued at $11,303,000 after purchasing an additional 2,226 shares during the period. Institutional investors and hedge funds own 57.26% of the company’s stock.
A number of analysts recently issued reports on the company. Cowen and Company reiterated an “outperform” rating and issued a $195.00 price target on shares of Facebook in a report on Thursday, August 10th. Citigroup Inc. reiterated a “buy” rating and issued a $200.00 price target on shares of Facebook in a report on Wednesday, September 27th. FBN Securities reiterated an “outperform” rating and issued a $120.00 price target on shares of Facebook in a report on Wednesday, September 27th. Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, KeyCorp reissued a “buy” rating and issued a $200.00 price objective on shares of Facebook in a research note on Wednesday, October 4th. Two equities research 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 currently has a consensus rating of “Buy” and a consensus target price of $185.38.
In other news, CFO David M. Wehner sold 15,470 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $167.16, for a total value of $2,585,965.20. Following the completion of the transaction, the chief financial officer now directly owns 62,375 shares in the company, valued at $10,426,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $159.87, for a total transaction of $119,902.50. Following the completion of the transaction, the vice president now owns 84,656 shares of the company’s stock, valued at $13,533,954.72. The disclosure for this sale can be found here. Insiders sold 9,024,241 shares of company stock valued at $1,499,994,651 over the last 90 days. Insiders own 19.08% of the company’s stock.
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Facebook, Inc. (NASDAQ:FB) opened at 172.55 on Friday. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49. The stock has a market cap of $501.12 billion, a PE 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 (NASDAQ:FB) last announced its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Analysts anticipate that Facebook, Inc. will post $5.34 EPS for the current year.
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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