Alps Advisors Inc. reduced its stake in Facebook, Inc. (NASDAQ:FB) by 43.0% during the second quarter, HoldingsChannel reports. The fund owned 17,790 shares of the social networking company’s stock after selling 13,441 shares during the quarter. Alps Advisors Inc.’s holdings in Facebook were worth $3,139,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Wealthsource Partners LLC lifted its holdings in shares of Facebook by 14.5% during the 4th quarter. Wealthsource Partners LLC now owns 4,404 shares of the social networking company’s stock valued at $777,000 after buying an additional 559 shares during the last quarter. Banco de Sabadell S.A acquired a new stake in shares of Facebook during the 4th quarter valued at about $2,358,000. Amussen Hunsaker Associates LLC lifted its holdings in shares of Facebook by 13.8% during the 4th quarter. Amussen Hunsaker Associates LLC now owns 12,689 shares of the social networking company’s stock valued at $2,239,000 after buying an additional 1,536 shares during the last quarter. Westover Capital Advisors LLC lifted its holdings in shares of Facebook by 20.6% during the 4th quarter. Westover Capital Advisors LLC now owns 5,261 shares of the social networking company’s stock valued at $928,000 after buying an additional 898 shares during the last quarter. Finally, Slow Capital Inc. acquired a new stake in shares of Facebook during the 4th quarter valued at about $3,211,000. Institutional investors and hedge funds own 60.43% of the company’s stock.
Several brokerages have recently issued reports on FB. SunTrust Banks reduced their price target on Facebook to $200.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Wells Fargo & Co restated an “outperform” rating and issued a $250.00 target price (up from $230.00) on shares of Facebook in a report on Monday, July 2nd. Raymond James lowered Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 target price for the company. in a report on Thursday, July 26th. Cleveland Research restated a “buy” rating on shares of Facebook in a report on Thursday, September 13th. Finally, ValuEngine upgraded Facebook from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $205.00.
Shares of FB stock opened at $153.74 on Friday. Facebook, Inc. has a 12 month low of $149.02 and a 12 month high of $218.62. The company has a market cap of $477.76 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.42.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 25th. The social networking company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Facebook had a return on equity of 28.16% and a net margin of 39.31%. The business had revenue of $13.23 billion for the quarter, compared to analyst estimates of $13.35 billion. During the same quarter last year, the firm earned $1.32 earnings per share. The firm’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities research analysts anticipate that Facebook, Inc. will post 7.08 EPS for the current year.
In other news, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $208.53, for a total transaction of $11,469,150.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 720,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $208.56, for a total value of $150,163,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,052,146 shares of company stock worth $1,136,174,749. 16.25% of the stock is currently owned by company insiders.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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