Watch Point Trust Co increased its position in Facebook, Inc. (NASDAQ:FB) by 432.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,942 shares of the social networking company’s stock after buying an additional 12,138 shares during the quarter. Watch Point Trust Co’s holdings in Facebook were worth $2,661,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in FB. Nuveen Asset Management LLC lifted its holdings in shares of Facebook by 5,336.8% in the second quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock valued at $4,341,794,000 after buying an additional 22,082,561 shares during the period. Invesco Ltd. lifted its holdings in shares of Facebook by 36.5% in the second quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock valued at $6,764,908,000 after buying an additional 9,368,684 shares during the period. Viking Global Investors LP lifted its holdings in shares of Facebook by 231.7% in the second quarter. Viking Global Investors LP now owns 7,063,705 shares of the social networking company’s stock valued at $1,363,295,000 after buying an additional 4,934,406 shares during the period. BlackRock Inc. lifted its holdings in shares of Facebook by 2.8% in the second quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock valued at $29,270,846,000 after buying an additional 4,114,043 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Facebook by 2.0% in the second quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock valued at $34,871,738,000 after buying an additional 3,465,756 shares during the period. Institutional investors and hedge funds own 63.17% of the company’s stock.
NASDAQ:FB traded up $0.42 during trading hours on Friday, hitting $190.84. 10,760,700 shares of the company’s stock traded hands, compared to its average volume of 16,776,678. The stock’s fifty day moving average price is $185.37 and its two-hundred day moving average price is $187.27. Facebook, Inc. has a twelve month low of $123.02 and a twelve month high of $208.66. The firm has a market cap of $554.39 billion, a P/E ratio of 25.21, a P/E/G ratio of 1.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.91 by $0.21. The firm had revenue of $17.65 billion during the quarter, compared to analysts’ expectations of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 EPS. On average, equities research analysts predict that Facebook, Inc. will post 8.57 earnings per share for the current year.
A number of equities research analysts have recently issued reports on FB shares. Nomura boosted their target price on Facebook from $235.00 to $253.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. ValuEngine lowered Facebook from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $205.00 target price (up from $180.00) on shares of Facebook in a research report on Monday, October 28th. They noted that the move was a valuation call. BMO Capital Markets cut their target price on Facebook from $197.00 to $185.00 and set a “market perform” rating on the stock in a research report on Thursday, October 31st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $250.00 target price on shares of Facebook in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have assigned a buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and an average target price of $228.33.
In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $180.47, for a total value of $9,925,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 122,855 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $192.22, for a total value of $23,615,188.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,681,364 shares of company stock valued at $867,172,511. Insiders own 14.53% of the company’s stock.
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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