Carl P. Sherr & Co. LLC boosted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 13.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,592 shares of the social networking company’s stock after purchasing an additional 665 shares during the quarter. Facebook comprises 1.3% of Carl P. Sherr & Co. LLC’s portfolio, making the stock its 19th largest holding. Carl P. Sherr & Co. LLC’s holdings in Facebook were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Capital International Investors lifted its position in shares of Facebook by 14.1% during the 1st quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after purchasing an additional 6,394,036 shares during the last quarter. Wellington Management Group LLP increased its position in Facebook by 36.9% in the 1st quarter. Wellington Management Group LLP now owns 15,704,846 shares of the social networking company’s stock worth $2,619,569,000 after buying an additional 4,236,566 shares during the period. Copper Rock Capital Partners LLC lifted its holdings in shares of Facebook by 6,224.9% during the second quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock worth $821,695,000 after buying an additional 3,897,184 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Facebook by 1,141.8% in the first quarter. Fisher Asset Management LLC now owns 3,852,395 shares of the social networking company’s stock valued at $642,580,000 after acquiring an additional 3,542,165 shares during the period. Finally, Public Investment Fund acquired a new stake in shares of Facebook in the first quarter worth $521,859,000. Institutional investors own 65.12% of the company’s stock.
In other Facebook news, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total value of $47,766.68. Following the completion of the sale, the vice president now owns 2,112 shares of the company’s stock, valued at $520,016.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,195 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total transaction of $266,951.05. Following the completion of the sale, the chief accounting officer now owns 3,147 shares in the company, valued at $703,008.33. The disclosure for this sale can be found here. Insiders sold 68,591 shares of company stock worth $14,894,825 in the last three months. Insiders own 14.14% of the company’s stock.
Shares of FB stock opened at $253.67 on Friday. The firm’s 50 day moving average price is $235.27 and its two-hundred day moving average price is $207.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $255.85. The stock has a market cap of $722.73 billion, a PE ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The company had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. As a group, sell-side analysts predict that Facebook, Inc. will post 7.4 earnings per share for the current fiscal year.
A number of brokerages have weighed in on FB. Nomura increased their price target on shares of Facebook from $253.00 to $260.00 in a report on Thursday, April 30th. Needham & Company LLC started coverage on Facebook in a research report on Thursday, July 2nd. They set a “hold” rating on the stock. TheStreet raised Facebook from a “c+” rating to a “b” rating in a report on Thursday, April 30th. Citigroup lifted their price objective on Facebook from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Wedbush restated an “outperform” rating and issued a $300.00 target price (up from $250.00) on shares of Facebook in a research note on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Facebook presently has a consensus rating of “Buy” and a consensus target price of $273.37.
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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