Employees Retirement System of Texas increased its stake in Facebook, Inc. (NASDAQ:FB) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 491,042 shares of the social networking company’s stock after buying an additional 2,300 shares during the period. Facebook accounts for about 1.3% of Employees Retirement System of Texas’ holdings, making the stock its 8th largest holding. Employees Retirement System of Texas’ holdings in Facebook were worth $95,419,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Cribstone Capital Management LLC grew its stake in shares of Facebook by 186.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after buying an additional 406 shares during the last quarter. IMA Wealth Inc. purchased a new stake in shares of Facebook in the 2nd quarter worth approximately $122,000. Trust Department MB Financial Bank N A purchased a new stake in shares of Facebook in the 2nd quarter worth approximately $134,000. Northwest Wealth Management LLC bought a new position in Facebook in the 2nd quarter valued at approximately $194,000. Finally, AJ Wealth Strategies LLC bought a new position in Facebook in the 2nd quarter valued at approximately $216,000. Institutional investors own 58.42% of the company’s stock.
In related news, insider Michael Todd Schroepfer sold 38,085 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $166.11, for a total value of $6,326,299.35. Following the transaction, the insider now directly owns 588,694 shares of the company’s stock, valued at approximately $97,787,960.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $135.12, for a total value of $7,431,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 518,103 shares of company stock worth $79,159,534. 17.23% of the stock is owned by insiders.
Shares of Facebook stock opened at $137.42 on Friday. Facebook, Inc. has a one year low of $126.85 and a one year high of $218.62. The firm has a market capitalization of $400.69 billion, a P/E ratio of 22.31, a P/E/G ratio of 0.87 and a beta of 0.57.
Facebook (NASDAQ:FB) last announced its earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same period last year, the firm earned $1.59 EPS. Facebook’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, analysts anticipate that Facebook, Inc. will post 7.36 earnings per share for the current year.
FB has been the topic of several analyst reports. Morgan Stanley upped their price objective on Facebook from $185.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, October 12th. ValuEngine raised Facebook from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Aegis upped their price objective on Facebook from $206.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Wells Fargo & Co lowered their price objective on Facebook from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. Finally, Deutsche Bank upped their price objective on Facebook from $192.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $191.80.
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Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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