Argent Trust Co Grows Stock Position in Facebook, Inc. (NASDAQ:FB)

Argent Trust Co increased its holdings in Facebook, Inc. (NASDAQ:FB) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,991 shares of the social networking company’s stock after buying an additional 1,442 shares during the period. Facebook comprises about 1.0% of Argent Trust Co’s holdings, making the stock its 24th largest position. Argent Trust Co’s holdings in Facebook were worth $14,724,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. RBA Wealth Management LLC purchased a new position in Facebook in the 1st quarter valued at about $25,000. DB Wealth Management Group LLC purchased a new position in Facebook in the 4th quarter valued at about $27,000. Klaas Financial Asset Advisors LLC purchased a new position in Facebook in the 4th quarter valued at about $27,000. Litman Gregory Asset Management LLC purchased a new position in Facebook in the 4th quarter valued at about $27,000. Finally, ADE LLC purchased a new position in Facebook in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 65.63% of the company’s stock.

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Facebook from $345.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Piper Sandler increased their price objective on shares of Facebook from $285.00 to $335.00 and gave the stock a “neutral” rating in a report on Thursday, April 29th. Monness Crespi & Hardt increased their price objective on shares of Facebook from $375.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. JMP Securities increased their price objective on shares of Facebook from $355.00 to $395.00 and gave the stock a “market outperform” rating in a report on Thursday, April 29th. Finally, HSBC increased their price objective on shares of Facebook from $220.00 to $275.00 and gave the stock a “reduce” rating in a report on Tuesday, May 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average price target of $370.93.

FB traded down $2.55 during trading hours on Friday, hitting $329.91. 354,747 shares of the stock were exchanged, compared to its average volume of 19,578,330. The stock has a 50-day simple moving average of $315.72. Facebook, Inc. has a 12 month low of $207.11 and a 12 month high of $338.30. The firm has a market capitalization of $935.45 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.30.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, April 28th. The social networking company reported $3.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.94. Facebook had a return on equity of 27.54% and a net margin of 35.74%. The firm had revenue of $26.20 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same period last year, the business posted $1.71 earnings per share. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. As a group, research analysts forecast that Facebook, Inc. will post 13.18 EPS for the current year.

In other Facebook news, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $333.14, for a total value of $25,751,722.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Newstead sold 250 shares of the firm’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $336.80, for a total value of $84,200.00. Following the transaction, the vice president now directly owns 9,140 shares in the company, valued at $3,078,352. The disclosure for this sale can be found here. Insiders sold 2,031,403 shares of company stock worth $632,050,379 over the last quarter. 14.01% of the stock is currently owned by company insiders.

Facebook 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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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