Grove Bank & Trust Acquires 3,393 Shares of Facebook, Inc. (FB)

Grove Bank & Trust boosted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 98.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,850 shares of the social networking company’s stock after acquiring an additional 3,393 shares during the quarter. Grove Bank & Trust’s holdings in Facebook were worth $1,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Enterprise Financial Services Corp raised its position in shares of Facebook by 1.0% in the first quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock valued at $302,000 after purchasing an additional 21 shares during the period. Wagner Bowman Management Corp raised its position in shares of Facebook by 0.5% in the second quarter. Wagner Bowman Management Corp now owns 4,997 shares of the social networking company’s stock valued at $754,000 after purchasing an additional 25 shares during the period. Keel Point LLC raised its position in shares of Facebook by 1.5% in the first quarter. Keel Point LLC now owns 2,289 shares of the social networking company’s stock valued at $325,000 after purchasing an additional 34 shares during the period. Farmers & Merchants Investments Inc. raised its position in shares of Facebook by 4.4% in the second 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 period. Finally, Somerset Group LLC raised its position in shares of Facebook by 0.9% in the first quarter. Somerset Group LLC now owns 3,900 shares of the social networking company’s stock valued at $554,000 after purchasing an additional 35 shares during the period. 57.26% of the stock is currently owned by hedge funds and other institutional investors.

In other Facebook news, CEO Mark Zuckerberg sold 248,984 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $170.69, for a total value of $42,499,078.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $159.87, for a total value of $119,902.50. Following the completion of the sale, the vice president now owns 84,656 shares in the company, valued at $13,533,954.72. The disclosure for this sale can be found here. In the last three months, insiders sold 9,024,241 shares of company stock worth $1,499,994,651. Insiders own 19.08% of the company’s stock.

A number of equities analysts have recently commented on the stock. Cowen and Company reissued an “outperform” rating and issued a $195.00 price target on shares of Facebook in a research report on Thursday, August 10th. Citigroup Inc. reissued a “buy” rating and issued a $200.00 price target on shares of Facebook in a research report on Wednesday, September 27th. FBN Securities reissued an “outperform” rating and issued a $120.00 price target on shares of Facebook in a research report on Wednesday, September 27th. Pivotal Research lowered shares of Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, KeyCorp reissued a “buy” rating and issued a $200.00 price target on shares of Facebook in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and an average target price of $185.38.

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Shares of Facebook, Inc. (NASDAQ:FB) opened at 172.55 on Friday. The company has a market cap of $501.12 billion, a PE ratio of 38.62 and a beta of 0.70. The company has a 50-day moving average price of $170.39 and a 200-day moving average price of $158.07. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share 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 earned $0.97 earnings per share. The business’s revenue was up 44.8% on a year-over-year basis. Equities research analysts expect that Facebook, Inc. will post $5.34 earnings per share for the current fiscal year.

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

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