GAM Holding AG reduced its position in Facebook, Inc. (NASDAQ:FB) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 336,021 shares of the social networking company’s stock after selling 31,916 shares during the quarter. Facebook comprises about 0.7% of GAM Holding AG’s portfolio, making the stock its 19th largest position. GAM Holding AG’s holdings in Facebook were worth $50,732,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in FB. Arcadia Investment Management Corp MI grew its holdings in shares of Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after purchasing an additional 120 shares during the last quarter. D. Scott Neal Inc. grew its holdings in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Facebook by 4.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the last quarter. Pacific Center for Financial Services grew its holdings in shares of Facebook by 10.7% during the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares during the last quarter. Finally, Watermark Asset Management Inc. bought a new stake in shares of Facebook during the 1st quarter valued at approximately $141,000. 57.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $167.02, for a total value of $2,672,320.00. Following the transaction, the insider now owns 219,332 shares in the company, valued at $36,632,830.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $180.35, for a total transaction of $135,262.50. Following the completion of the transaction, the vice president now owns 88,091 shares in the company, valued at approximately $15,887,211.85. The disclosure for this sale can be found here. Insiders have sold 4,890,410 shares of company stock worth $859,895,025 over the last quarter. Company insiders own 19.08% of the company’s stock.
Several brokerages recently issued reports on FB. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $202.00 price target on the stock in a report on Tuesday, November 7th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $215.00 price target on shares of Facebook in a report on Friday, November 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 price target on shares of Facebook in a report on Friday, November 3rd. Canaccord Genuity lifted their price target on shares of Facebook from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of Facebook from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $197.95.
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Facebook, Inc. (NASDAQ:FB) opened at $178.07 on Wednesday. Facebook, Inc. has a 52-week low of $114.00 and a 52-week high of $182.90. The company has a market cap of $519,471.31, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.15 and a beta of 0.67.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. During the same period last year, the business earned $1.09 earnings per share. The business’s quarterly revenue was up 47.3% on a year-over-year basis. equities analysts expect that Facebook, Inc. will post 5.81 EPS for the current fiscal year.
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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