Maryland Capital Management Grows Holdings in Facebook, Inc. (NASDAQ:FB)

Maryland Capital Management grew its stake in Facebook, Inc. (NASDAQ:FB) by 10.8% during the first quarter, Holdings Channel.com reports. The fund owned 86,671 shares of the social networking company’s stock after acquiring an additional 8,462 shares during the period. Facebook accounts for about 1.7% of Maryland Capital Management’s investment portfolio, making the stock its 19th biggest position. Maryland Capital Management’s holdings in Facebook were worth $14,457,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Permanens Capital L.P. purchased a new stake in Facebook during the 4th quarter worth approximately $28,000. Lighthouse Financial Advisors Inc. purchased a new stake in Facebook during the 4th quarter worth approximately $41,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Facebook during the 4th quarter worth approximately $41,000. HHM Wealth Advisors LLC purchased a new stake in Facebook during the 1st quarter worth approximately $41,000. Finally, Sowa Financial Group Inc. purchased a new stake in Facebook during the 4th quarter worth approximately $42,000. 65.14% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:FB traded down $3.69 during mid-day trading on Tuesday, hitting $228.22. 8,704,689 shares of the company’s stock traded hands, compared to its average volume of 23,960,940. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The firm’s 50 day simple moving average is $203.59 and its 200 day simple moving average is $197.89. Facebook, Inc. has a 1 year low of $137.10 and a 1 year high of $240.90. The company has a market cap of $660.73 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, April 29th. The social networking company reported $1.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($0.07). Facebook had a net margin of 28.57% and a return on equity of 21.54%. The business had revenue of $17.74 billion for the quarter, compared to analysts’ expectations of $17.25 billion. During the same quarter last year, the business posted $1.89 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. On average, research analysts expect that Facebook, Inc. will post 7.27 earnings per share for the current fiscal year.

In other Facebook news, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the sale, the executive now directly owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Susan J.S. Taylor sold 1,195 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total transaction of $266,951.05. Following the sale, the chief accounting officer now directly owns 3,147 shares in the company, valued at $703,008.33. The disclosure for this sale can be found here. Insiders have sold a total of 68,591 shares of company stock worth $14,817,278 over the last ninety days. 14.14% of the stock is owned by corporate insiders.

Several research analysts have commented on the stock. Bank of America boosted their price target on shares of Facebook from $200.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Cowen boosted their price target on shares of Facebook from $215.00 to $245.00 in a report on Thursday, April 30th. TheStreet upgraded shares of Facebook from a “c+” rating to a “b” rating in a report on Thursday, April 30th. Guggenheim upped their target price on shares of Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus upped their target price on shares of Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $242.74.

About Facebook

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.

Further Reading: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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