Merriman Wealth Management LLC acquired a new position in shares of Facebook, Inc. (NASDAQ:FB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,819 shares of the social networking company’s stock, valued at approximately $1,325,000.
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% during the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after purchasing an additional 406 shares in the last quarter. IMA Wealth Inc. acquired a new position in shares of Facebook during the second quarter worth $122,000. Trust Department MB Financial Bank N A acquired a new position in shares of Facebook during the second quarter worth $134,000. Northwest Wealth Management LLC acquired a new position in shares of Facebook during the second quarter worth $194,000. Finally, AJ Wealth Strategies LLC acquired a new position in shares of Facebook during the second quarter worth $216,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.
FB has been the subject of a number of analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $195.00 target price on shares of Facebook in a research note on Monday, September 3rd. Robert W. Baird reiterated a “buy” rating and set a $195.00 target price on shares of Facebook in a research note on Monday, September 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $202.00 target price on shares of Facebook in a research note on Thursday, August 23rd. Wells Fargo & Co reiterated a “buy” rating and set a $220.00 target price on shares of Facebook in a research note on Thursday, August 23rd. Finally, Barclays reiterated a “buy” rating and set a $180.00 target price on shares of Facebook in a research note on Friday, September 14th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $191.80.
In related news, VP Colin Stretch sold 750 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $163.25, for a total transaction of $122,437.50. Following the completion of the transaction, the vice president now directly owns 96,144 shares of the company’s stock, valued at $15,695,508. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan J.S. Taylor sold 2,112 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $137.50, for a total transaction of $290,400.00. Following the transaction, the insider now directly owns 6,927 shares of the company’s stock, valued at $952,462.50. The disclosure for this sale can be found here. Insiders have sold 518,103 shares of company stock valued at $79,159,534 in the last quarter. Insiders own 17.23% of the company’s stock.
Shares of FB opened at $137.42 on Friday. Facebook, Inc. has a fifty-two week low of $126.85 and a fifty-two week high of $218.62. The stock has a market cap of $405.63 billion, a PE ratio of 22.31, a price-to-earnings-growth 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 for the quarter, topping the consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The business had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the prior year, the firm earned $1.59 earnings per share. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. Research analysts expect that Facebook, Inc. will post 7.37 EPS for the current fiscal year.
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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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