First Financial Corp IN lessened its position in shares of Facebook, Inc. (NASDAQ:FB) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,272 shares of the social networking company’s stock after selling 78 shares during the quarter. Facebook makes up about 0.9% of First Financial Corp IN’s investment portfolio, making the stock its 18th largest position. First Financial Corp IN’s holdings in Facebook were worth $1,119,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. AE Wealth Management LLC raised its position in Facebook by 42.6% in the 2nd quarter. AE Wealth Management LLC now owns 82,420 shares of the social networking company’s stock valued at $18,715,000 after purchasing an additional 24,635 shares during the last quarter. Sarasin & Partners LLP boosted its position in shares of Facebook by 223.4% during the second quarter. Sarasin & Partners LLP now owns 256,493 shares of the social networking company’s stock worth $58,242,000 after buying an additional 177,179 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Facebook by 7.8% during the third quarter. Foundations Investment Advisors LLC now owns 7,764 shares of the social networking company’s stock worth $2,018,000 after buying an additional 563 shares during the period. Donaldson Capital Management LLC boosted its position in shares of Facebook by 23.3% during the second quarter. Donaldson Capital Management LLC now owns 1,596 shares of the social networking company’s stock worth $362,000 after buying an additional 302 shares during the period. Finally, Clarius Group LLC boosted its position in shares of Facebook by 3.8% during the third quarter. Clarius Group LLC now owns 41,396 shares of the social networking company’s stock worth $10,842,000 after buying an additional 1,521 shares during the period. 65.31% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on FB. BofA Securities upped their target price on Facebook from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Raymond James upped their target price on Facebook from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, July 31st. They noted that the move was a valuation call. MKM Partners upped their target price on Facebook from $240.00 to $290.00 in a report on Wednesday, July 15th. Tigress Financial reiterated a “buy” rating on shares of Facebook in a report on Tuesday, September 1st. Finally, Jefferies Financial Group set a $310.00 target price on Facebook and gave the stock a “buy” rating in a report on Wednesday, September 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $283.11.
Shares of FB stock traded down $6.67 during trading hours on Thursday, reaching $265.15. The company’s stock had a trading volume of 242,846 shares, compared to its average volume of 23,576,494. The firm’s 50 day simple moving average is $269.65 and its 200-day simple moving average is $233.08. The company has a market capitalization of $774.37 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 1.74 and a beta of 1.29. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $304.67.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 22.90% and a net margin of 31.29%. The company had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. On average, research analysts expect that Facebook, Inc. will post 8.1 EPS for the current year.
In related news, CRO David B. Fischer sold 13,110 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $293.95, for a total transaction of $3,853,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $246.22, for a total value of $47,766.68. Following the transaction, the vice president now directly owns 2,112 shares of the company’s stock, valued at $520,016.64. The disclosure for this sale can be found here. Insiders sold a total of 33,597 shares of company stock valued at $9,302,058 over the last quarter. 14.14% of the stock is owned by corporate insiders.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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