Richard Bernstein Advisors LLC reduced its position in Facebook, Inc. (NASDAQ:FB) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,829 shares of the social networking company’s stock after selling 7,567 shares during the period. Facebook accounts for about 0.6% of Richard Bernstein Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Richard Bernstein Advisors LLC’s holdings in Facebook were worth $19,010,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Employees Retirement System of Texas raised its position in Facebook by 0.5% during the second quarter. Employees Retirement System of Texas now owns 491,042 shares of the social networking company’s stock valued at $95,419,000 after purchasing an additional 2,300 shares during the period. AustralianSuper Pty Ltd raised its position in Facebook by 13.8% during the second quarter. AustralianSuper Pty Ltd now owns 894,000 shares of the social networking company’s stock valued at $173,722,000 after purchasing an additional 108,117 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new stake in Facebook during the second quarter valued at approximately $29,046,000. Modera Wealth Management LLC raised its position in Facebook by 56.3% during the second quarter. Modera Wealth Management LLC now owns 2,151 shares of the social networking company’s stock valued at $418,000 after purchasing an additional 775 shares during the period. Finally, Sawtooth Solutions LLC raised its position in Facebook by 12.5% during the second quarter. Sawtooth Solutions LLC now owns 18,507 shares of the social networking company’s stock valued at $3,597,000 after purchasing an additional 2,060 shares during the period. Institutional investors own 58.42% of the company’s stock.
Shares of NASDAQ:FB opened at $137.42 on Friday. Facebook, Inc. has a 52-week low of $126.85 and a 52-week high of $218.62. The company has a market capitalization of $405.63 billion, a P/E ratio of 22.31, a PEG ratio of 0.88 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.30. The business had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 EPS. On average, analysts expect that Facebook, Inc. will post 7.37 EPS for the current year.
A number of research analysts have recently commented on FB shares. JPMorgan Chase & Co. upped their target price on Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, September 18th. Wells Fargo & Co reaffirmed a “buy” rating and set a $220.00 target price on shares of Facebook in a research note on Thursday, August 23rd. Moffett Nathanson reaffirmed a “neutral” rating and set a $175.00 target price on shares of Facebook in a research note on Tuesday, September 4th. BidaskClub raised Facebook from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Aegis upped their target price on Facebook from $206.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $191.80.
In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $166.07, for a total transaction of $9,133,850.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $163.25, for a total value of $122,437.50. Following the sale, the vice president now directly owns 96,144 shares in the company, valued at approximately $15,695,508. The disclosure for this sale can be found here. Insiders have sold a total of 518,103 shares of company stock worth $79,159,534 in the last ninety days. Insiders own 17.23% of the company’s stock.
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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