Cigna Investments Inc. New raised its position in shares of Facebook, Inc. (NASDAQ:FB) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,039 shares of the social networking company’s stock after acquiring an additional 3,568 shares during the quarter. Facebook makes up about 1.7% of Cigna Investments Inc. New’s holdings, making the stock its 4th largest holding. Cigna Investments Inc. New’s holdings in Facebook were worth $13,350,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Facebook in the fourth quarter valued at approximately $5,429,501,000. FMR LLC increased its holdings in shares of Facebook by 3.3% in the fourth quarter. FMR LLC now owns 123,422,389 shares of the social networking company’s stock valued at $25,332,445,000 after purchasing an additional 3,993,741 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Facebook by 1,141.8% in the first quarter. Fisher Asset Management LLC now owns 3,852,395 shares of the social networking company’s stock valued at $642,580,000 after purchasing an additional 3,542,165 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Facebook by 28.4% in the fourth quarter. Janus Henderson Group PLC now owns 12,076,233 shares of the social networking company’s stock valued at $2,478,206,000 after purchasing an additional 2,673,200 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of Facebook by 5.4% in the fourth quarter. Capital World Investors now owns 46,700,441 shares of the social networking company’s stock valued at $9,585,263,000 after purchasing an additional 2,405,542 shares during the last quarter. 65.13% of the stock is owned by institutional investors and hedge funds.
Facebook stock traded up $3.52 during midday trading on Friday, reaching $234.91. The company’s stock had a trading volume of 33,593,985 shares, compared to its average volume of 26,353,588. The business has a 50-day simple moving average of $190.35 and a 200-day simple moving average of $196.00. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $237.20. The company has a market cap of $659.25 billion, a P/E ratio of 32.18, a P/E/G ratio of 1.68 and a beta of 1.16.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, April 29th. The social networking company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.07). Facebook had a return on equity of 21.54% and a net margin of 28.57%. The firm had revenue of $17.74 billion for the quarter, compared to analyst estimates of $17.25 billion. During the same quarter last year, the firm posted $1.89 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities analysts forecast that Facebook, Inc. will post 7.25 earnings per share for the current year.
In related news, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the transaction, the executive now owns 57,503 shares of the company’s stock, valued at $11,804,790.87. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Susan J.S. Taylor sold 1,195 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total value of $266,951.05. Following the transaction, the chief accounting officer now directly owns 3,147 shares in the company, valued at approximately $703,008.33. The disclosure for this sale can be found here. Insiders have sold 68,199 shares of company stock worth $13,967,456 in the last quarter. Insiders own 14.14% of the company’s stock.
Several equities research analysts recently commented on FB shares. Citigroup cut their price target on Facebook from $240.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Mizuho increased their price objective on Facebook from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Morgan Stanley reiterated an “overweight” rating and issued a $230.00 price objective (up from $185.00) on shares of Facebook in a research report on Thursday, April 30th. Deutsche Bank lowered Facebook to a “buy” rating and lowered their price objective for the stock from $280.00 to $200.00 in a research report on Tuesday, April 21st. Finally, Evercore ISI reiterated a “buy” rating and issued a $280.00 price objective on shares of Facebook in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $240.98.
Facebook Company Profile
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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