Buckingham Capital Management Inc. lifted its position in shares of Facebook, Inc. (NASDAQ:FB) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,595 shares of the social networking company’s stock after acquiring an additional 1,133 shares during the quarter. Facebook makes up about 1.0% of Buckingham Capital Management Inc.’s investment portfolio, making the stock its 24th largest position. Buckingham Capital Management Inc.’s holdings in Facebook were worth $5,196,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC acquired a new stake in shares of Facebook during the third quarter worth $119,000. Aviance Capital Management LLC acquired a new stake in shares of Facebook during the second quarter worth $151,000. Arlington Partners LLC acquired a new stake in shares of Facebook during the third quarter worth $164,000. Lenox Wealth Management Inc. grew its stake in shares of Facebook by 65.5% during the third quarter. Lenox Wealth Management Inc. now owns 1,023 shares of the social networking company’s stock worth $168,000 after purchasing an additional 405 shares during the period. Finally, Wagner Wealth Management LLC grew its stake in shares of Facebook by 100.0% during the third quarter. Wagner Wealth Management LLC now owns 1,056 shares of the social networking company’s stock worth $174,000 after purchasing an additional 528 shares during the period. Institutional investors own 59.63% of the company’s stock.
In related news, VP Colin Stretch sold 9,000 shares of the company’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $150.00, for a total transaction of $1,350,000.00. Following the sale, the vice president now owns 94,680 shares in the company, valued at $14,202,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,442 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $162.02, for a total value of $233,632.84. Following the sale, the chief accounting officer now owns 1,569 shares in the company, valued at approximately $254,209.38. The disclosure for this sale can be found here. Insiders have sold 391,461 shares of company stock valued at $60,325,530 over the last ninety days. 16.25% of the stock is owned by insiders.
A number of brokerages recently commented on FB. Zacks Investment Research cut Facebook from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. UBS Group reaffirmed a “neutral” rating and set a $170.00 price objective (up from $160.00) on shares of Facebook in a research note on Thursday, January 31st. CIBC reaffirmed an “outperform” rating and set a $195.00 price objective (up from $185.00) on shares of Facebook in a research note on Thursday, January 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $155.00 price objective on shares of Facebook in a research note on Thursday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and forty have given a buy rating to the stock. Facebook presently has a consensus rating of “Buy” and a consensus target price of $191.58.
FB stock opened at $165.98 on Friday. The stock has a market cap of $482.17 billion, a PE ratio of 21.93, a PEG ratio of 1.01 and a beta of 0.88. Facebook, Inc. has a fifty-two week low of $123.02 and a fifty-two week high of $218.62.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, January 30th. The social networking company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.20. The company had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.40 billion. Facebook had a return on equity of 27.51% and a net margin of 39.60%. Facebook’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. Research analysts anticipate that Facebook, Inc. will post 7.55 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. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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