Strategic Investment Advisors MI lifted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,488 shares of the social networking company’s stock after purchasing an additional 191 shares during the period. Strategic Investment Advisors MI’s holdings in Facebook were worth $680,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in FB. Rocky Mountain Advisers LLC acquired a new position in Facebook in the 3rd quarter valued at $26,000. Horan Capital Advisors LLC. acquired a new stake in shares of Facebook during the 3rd quarter worth $26,000. Carolina Wealth Advisors LLC grew its holdings in shares of Facebook by 58.2% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 144 shares of the social networking company’s stock worth $38,000 after purchasing an additional 53 shares in the last quarter. Demars Financial Group LLC bought a new stake in shares of Facebook during the 2nd quarter worth $39,000. Finally, Newfound Research LLC bought a new stake in shares of Facebook during the 3rd quarter worth $40,000. Institutional investors own 59.62% of the company’s stock.
FB has been the subject of several research reports. KeyCorp increased their target price on Facebook from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Mizuho increased their target price on Facebook from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Barclays raised their price objective on Facebook from $285.00 to $325.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Jefferies Financial Group raised their price objective on Facebook from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Finally, The Goldman Sachs Group set a $330.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Monday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Facebook currently has a consensus rating of “Buy” and a consensus price target of $299.24.
Facebook (NASDAQ:FB) last posted its earnings results on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.77. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The company had revenue of $21.47 billion for the quarter, compared to analyst estimates of $19.78 billion. During the same quarter last year, the company earned $2.12 earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, research analysts expect that Facebook, Inc. will post 9.39 EPS for the current year.
In other Facebook news, CEO Mark Zuckerberg sold 14,000 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $286.84, for a total value of $4,015,760.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO David B. Fischer sold 13,118 shares of the business’s stock in a transaction on Monday, November 30th. The shares were sold at an average price of $276.02, for a total value of $3,620,830.36. The disclosure for this sale can be found here. Insiders have sold 1,197,194 shares of company stock worth $327,128,221 over the last quarter. 14.14% of the stock is currently owned by corporate insiders.
Facebook Company Profile
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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