Legal & General Group Plc Boosts Position in Facebook, Inc. (FB)

Legal & General Group Plc raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 2.1% during the 3rd quarter, Holdings Channel reports. The firm owned 10,176,516 shares of the social networking company’s stock after acquiring an additional 205,746 shares during the quarter. Facebook comprises approximately 1.2% of Legal & General Group Plc’s holdings, making the stock its 7th biggest position. Legal & General Group Plc’s holdings in Facebook were worth $1,673,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Buckingham Capital Management Inc. lifted its holdings in shares of Facebook by 3.7% in the third quarter. Buckingham Capital Management Inc. now owns 31,595 shares of the social networking company’s stock worth $5,196,000 after buying an additional 1,133 shares in the last quarter. Waldron Private Wealth LLC lifted its holdings in shares of Facebook by 3.2% in the third quarter. Waldron Private Wealth LLC now owns 19,954 shares of the social networking company’s stock worth $3,281,000 after buying an additional 610 shares in the last quarter. Marquette Asset Management LLC lifted its holdings in shares of Facebook by 83.1% in the third quarter. Marquette Asset Management LLC now owns 2,054 shares of the social networking company’s stock worth $338,000 after buying an additional 932 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Facebook by 16,836.7% in the third quarter. Rehmann Capital Advisory Group now owns 1,737,877 shares of the social networking company’s stock worth $432,530,000 after buying an additional 1,727,616 shares in the last quarter. Finally, Albion Financial Group UT lifted its holdings in shares of Facebook by 1.5% in the third quarter. Albion Financial Group UT now owns 86,808 shares of the social networking company’s stock worth $14,276,000 after buying an additional 1,272 shares in the last quarter. 59.63% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Christopher K. Cox sold 15,900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $150.07, for a total value of $2,386,113.00. Following the transaction, the insider now owns 279,684 shares in the company, valued at $41,972,177.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $132.11, for a total transaction of $7,266,050.00. The disclosure for this sale can be found here. Insiders sold 391,461 shares of company stock worth $60,325,530 in the last 90 days. Company insiders own 16.25% of the company’s stock.

FB has been the topic of a number of recent analyst reports. Wedbush set a $220.00 price target on shares of Facebook and gave the stock a “buy” rating in a report on Wednesday, January 2nd. Tigress Financial reissued a “buy” rating on shares of Facebook in a report on Thursday, December 20th. Goldman Sachs Group downgraded shares of Facebook to a “neutral” rating in a report on Friday, January 4th. BMO Capital Markets lowered their target price on shares of Facebook to $163.00 and set a “market perform” rating on the stock in a research note on Monday, January 28th. Finally, DZ Bank downgraded shares of Facebook from a “hold” rating to a “sell” rating and lowered their target price for the company from $145.00 to $115.00 in a research note on Thursday, December 20th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and forty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $191.58.

Shares of NASDAQ FB opened at $165.98 on Friday. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62. The company has a market cap of $482.17 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.01 and a beta of 0.88.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.20. Facebook had a net margin of 39.60% and a return on equity of 27.51%. The firm had revenue of $16.91 billion for the quarter, compared to analysts’ expectations of $16.40 billion. During the same quarter last year, the business earned $1.44 earnings per share. The business’s revenue was up 30.4% on a year-over-year basis. On average, equities research analysts predict that Facebook, Inc. will post 7.55 EPS for the current fiscal year.

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About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use 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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