SlateStone Wealth LLC raised its stake in shares of Facebook, Inc. (NASDAQ:FB) by 61.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,365 shares of the social networking company’s stock after acquiring an additional 5,075 shares during the period. SlateStone Wealth LLC’s holdings in Facebook were worth $3,035,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of Facebook by 1.2% during the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after purchasing an additional 1,132,053 shares during the period. Capital International Investors raised its stake in shares of Facebook by 14.1% during the 1st quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after purchasing an additional 6,394,036 shares during the period. Geode Capital Management LLC raised its stake in shares of Facebook by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock worth $5,794,733,000 after purchasing an additional 723,655 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Facebook by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 21,748,552 shares of the social networking company’s stock worth $3,627,657,000 after purchasing an additional 1,251,202 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Facebook by 6.9% during the 1st quarter. Alliancebernstein L.P. now owns 18,712,332 shares of the social networking company’s stock worth $3,121,217,000 after purchasing an additional 1,205,780 shares during the period. Institutional investors and hedge funds own 65.12% of the company’s stock.
NASDAQ:FB opened at $253.67 on Friday. The business has a 50 day moving average of $235.27 and a 200 day moving average of $207.59. The company has a market capitalization of $668.11 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.68 and a beta of 1.19. Facebook, Inc. has a 1-year low of $137.10 and a 1-year high of $255.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60.
Facebook (NASDAQ:FB) last released its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. As a group, sell-side analysts anticipate that Facebook, Inc. will post 7.36 EPS for the current year.
In other Facebook news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total value of $45,543.44. Following the completion of the sale, the vice president now owns 1,918 shares in the company, valued at $450,269.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the sale, the executive now owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The disclosure for this sale can be found here. Insiders sold a total of 68,591 shares of company stock valued at $14,894,825 in the last 90 days. 14.14% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently commented on the company. BofA Securities lifted their target price on Facebook from $265.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday. MKM Partners lifted their target price on Facebook from $240.00 to $290.00 in a research note on Wednesday, July 15th. Raymond James lifted their target price on Facebook from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday. They noted that the move was a valuation call. Guggenheim lifted their price objective on Facebook from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Needham & Company LLC assumed coverage on Facebook in a report on Thursday, July 2nd. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $273.37.
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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