Morse Asset Management Inc increased its position in Facebook, Inc. (NASDAQ:FB) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,832 shares of the social networking company’s stock after purchasing an additional 4,434 shares during the period. Facebook makes up 3.2% of Morse Asset Management Inc’s investment portfolio, making the stock its 5th largest holding. Morse Asset Management Inc’s holdings in Facebook were worth $10,776,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TD Asset Management Inc. lifted its stake in Facebook by 9.0% during the 2nd quarter. TD Asset Management Inc. now owns 3,160,739 shares of the social networking company’s stock valued at $610,023,000 after acquiring an additional 260,489 shares in the last quarter. Pendal Group Ltd lifted its stake in Facebook by 17.6% during the 2nd quarter. Pendal Group Ltd now owns 202,115 shares of the social networking company’s stock valued at $38,952,000 after acquiring an additional 30,184 shares in the last quarter. Westpac Banking Corp lifted its stake in Facebook by 3.7% during the 2nd quarter. Westpac Banking Corp now owns 785,726 shares of the social networking company’s stock valued at $151,645,000 after acquiring an additional 27,831 shares in the last quarter. Charter Trust Co. lifted its stake in Facebook by 13.0% during the 2nd quarter. Charter Trust Co. now owns 17,290 shares of the social networking company’s stock valued at $3,337,000 after acquiring an additional 1,994 shares in the last quarter. Finally, DDD Partners LLC bought a new position in Facebook during the 2nd quarter valued at $210,000. Institutional investors own 62.11% of the company’s stock.
FB traded up $1.73 during trading hours on Friday, hitting $184.32. The stock had a trading volume of 317,446 shares, compared to its average volume of 17,234,928. The company’s fifty day simple moving average is $195.04 and its 200 day simple moving average is $180.54. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $208.66. The stock has a market cap of $537.64 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.49 billion. During the same quarter last year, the firm posted $1.74 EPS. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, equities analysts expect that Facebook, Inc. will post 7.96 EPS for the current year.
Several brokerages have weighed in on FB. Loop Capital raised their price objective on Facebook from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. raised their price objective on Facebook from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Cowen restated an “outperform” rating and set a $225.00 price objective (up from $195.00) on shares of Facebook in a research note on Thursday, April 25th. Raymond James raised their price objective on Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. They noted that the move was a valuation call. Finally, China Renaissance Securities began coverage on Facebook in a research note on Wednesday, May 29th. They set a “buy” rating and a $245.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $220.92.
In other Facebook news, CEO Mark Zuckerberg sold 125,600 shares of Facebook stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $184.50, for a total transaction of $23,173,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan J.S. Taylor sold 1,472 shares of Facebook stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $181.89, for a total value of $267,742.08. Following the transaction, the insider now directly owns 569 shares of the company’s stock, valued at approximately $103,495.41. The disclosure for this sale can be found here. In the last three months, insiders sold 808,283 shares of company stock valued at $150,830,736. 14.53% of the stock is currently owned by insiders.
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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