Facebook, Inc. (FB) Holdings Raised by Essex Financial Services Inc.

Essex Financial Services Inc. boosted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 50.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,745 shares of the social networking company’s stock after purchasing an additional 7,965 shares during the quarter. Essex Financial Services Inc.’s holdings in Facebook were worth $3,585,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC boosted its position in shares of Facebook by 15,047.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock valued at $16,828,000 after acquiring an additional 2,523,918 shares during the period. State Street Corp boosted its position in shares of Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after acquiring an additional 1,536,158 shares during the period. HPM Partners LLC bought a new stake in shares of Facebook in the first quarter valued at approximately $195,602,000. Jennison Associates LLC boosted its position in shares of Facebook by 6.4% in the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock valued at $3,070,470,000 after acquiring an additional 1,219,412 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt boosted its position in shares of Facebook by 131.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock valued at $279,838,000 after acquiring an additional 1,120,000 shares during the period. 57.35% of the stock is owned by hedge funds and other institutional investors.

In other Facebook news, insider Michael Todd Schroepfer sold 38,055 shares of Facebook stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $172.60, for a total value of $6,568,293.00. Following the completion of the transaction, the insider now directly owns 533,937 shares of the company’s stock, valued at approximately $92,157,526.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction 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 completion of the transaction, the insider now directly owns 219,332 shares of the company’s stock, valued at $36,632,830.64. The disclosure for this sale can be found here. Insiders sold a total of 5,762,164 shares of company stock valued at $1,015,885,901 over the last 90 days. 19.08% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently weighed in on the company. Robert W. Baird reissued an “outperform” rating and issued a $185.00 price objective (up from $163.00) on shares of Facebook in a research report on Thursday, July 27th. Mizuho reissued a “buy” rating on shares of Facebook in a research report on Monday, August 7th. MKM Partners reissued a “buy” rating and issued a $200.00 price objective (up from $180.00) on shares of Facebook in a research report on Monday, August 7th. Pivotal Research cut Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $190.00 price objective (up from $180.00) on shares of Facebook in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $197.95.

WARNING: This piece was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/11/19/facebook-inc-fb-holdings-raised-by-essex-financial-services-inc.html.

Shares of Facebook, Inc. (FB) opened at $179.00 on Friday. The stock has a market capitalization of $520,139.66, a price-to-earnings ratio of 34.49, a P/E/G ratio of 1.14 and a beta of 0.67. Facebook, Inc. has a one year low of $114.00 and a one year high of $182.90.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. equities analysts forecast that Facebook, Inc. will post 5.86 EPS for the current year.

About Facebook

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.

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply