First Citizens Bank & Trust Co. cut its holdings in shares of Facebook Inc (NASDAQ:FB) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,631 shares of the social networking company’s stock after selling 4,100 shares during the period. Facebook makes up approximately 1.0% of First Citizens Bank & Trust Co.’s holdings, making the stock its 19th biggest position. First Citizens Bank & Trust Co.’s holdings in Facebook were worth $7,346,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Facebook during the third quarter valued at approximately $111,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Facebook during the second quarter valued at approximately $138,000. Stelac Advisory Services LLC acquired a new stake in shares of Facebook during the third quarter valued at approximately $152,000. Odey Holdings AG raised its holdings in shares of Facebook by 5.4% during the second quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after acquiring an additional 54 shares during the period. Finally, Almanack Investment Partners LLC. acquired a new stake in shares of Facebook during the second quarter valued at approximately $165,000. 58.48% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on FB shares. Morgan Stanley set a $215.00 price objective on shares of Facebook and gave the company a “buy” rating in a research note on Friday, January 12th. Wells Fargo & Co reiterated an “outperform” rating and issued a $230.00 price objective (up previously from $215.00) on shares of Facebook in a research note on Monday, January 8th. Pivotal Research reiterated a “sell” rating and issued a $147.00 price objective on shares of Facebook in a research note on Monday, January 8th. SunTrust Banks upped their price objective on shares of Facebook to $240.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $209.16 price objective on the stock in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, forty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus price target of $214.70.
Shares of Facebook Inc (NASDAQ FB) opened at $184.76 on Tuesday. Facebook Inc has a 1-year low of $137.60 and a 1-year high of $195.32. The firm has a market cap of $536,730.00, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 0.96 and a beta of 0.64.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The firm had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. equities analysts anticipate that Facebook Inc will post 7.28 EPS for the current year.
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Facebook Company Profile
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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