BTIM Corp. increased its position in shares of Facebook, Inc. (NASDAQ:FB) by 35.2% during the second quarter, Holdings Channel reports. The fund owned 4,808 shares of the social networking company’s stock after buying an additional 1,252 shares during the period. BTIM Corp.’s holdings in Facebook were worth $726,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI increased its position in shares of Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares during the last quarter. D. Scott Neal Inc. increased its position in shares of Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares during the last quarter. Cohen Capital Management Inc. bought a new position in shares of Facebook during the first quarter worth about $121,000. Cable Hill Partners LLC increased its position in shares of Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 79 shares during the last quarter. Finally, Pacific Center for Financial Services increased its position in shares of Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 88 shares during the last quarter. 57.60% of the stock is owned by institutional investors.
Facebook, Inc. (FB) traded up 0.018% on Wednesday, hitting $171.261. The stock had a trading volume of 6,323,844 shares. The firm has a market cap of $497.38 billion, a PE ratio of 38.331 and a beta of 0.70. The company’s 50 day moving average is $159.02 and its 200 day moving average is $145.94. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s revenue was up 44.8% compared to the same quarter last year. On average, equities research analysts expect that Facebook, Inc. will post $5.33 EPS for the current fiscal year.
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A number of brokerages have issued reports on FB. Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 price target on shares of Facebook in a report on Saturday, June 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $168.00 target price (up from $160.00) on shares of Facebook in a research note on Wednesday, July 12th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $159.91 target price for the company in a research note on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $192.00 target price (up from $175.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $155.00 target price on shares of Facebook in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus target price of $180.91.
In other Facebook news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $150.10, for a total transaction of $112,575.00. Following the sale, the vice president now owns 86,761 shares in the company, valued at $13,022,826.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Desmond-Hellmann sold 209 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total value of $30,236.03. The disclosure for this sale can be found here. Insiders have sold 10,166,363 shares of company stock worth $1,604,306,533 in the last 90 days. 19.08% of the stock is currently owned by insiders.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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