Crestwood Advisors Group LLC lessened its position in Facebook, Inc. (NASDAQ:FB) by 3.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 127,462 shares of the social networking company’s stock after selling 5,079 shares during the period. Crestwood Advisors Group LLC’s holdings in Facebook were worth $34,818,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Facebook by 10.3% during the fourth quarter. Halbert Hargrove Global Advisors LLC now owns 6,388 shares of the social networking company’s stock worth $1,745,000 after buying an additional 595 shares in the last quarter. Youngs Advisory Group Inc. boosted its position in shares of Facebook by 8.3% in the fourth quarter. Youngs Advisory Group Inc. now owns 1,123 shares of the social networking company’s stock worth $307,000 after acquiring an additional 86 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Facebook by 2.1% in the fourth quarter. ProShare Advisors LLC now owns 1,735,287 shares of the social networking company’s stock worth $474,011,000 after acquiring an additional 36,114 shares during the last quarter. Stoneridge Investment Partners LLC boosted its position in shares of Facebook by 24.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 7,716 shares of the social networking company’s stock worth $2,108,000 after acquiring an additional 1,500 shares during the last quarter. Finally, TCW Group Inc. boosted its position in shares of Facebook by 24.1% in the fourth quarter. TCW Group Inc. now owns 1,392,952 shares of the social networking company’s stock worth $380,498,000 after acquiring an additional 270,175 shares during the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.
In other news, CEO Mark Zuckerberg sold 62,250 shares of the stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $277.06, for a total value of $17,246,985.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Susan J.S. Taylor sold 2,707 shares of the stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $269.47, for a total value of $729,455.29. Following the completion of the sale, the chief accounting officer now directly owns 3,147 shares of the company’s stock, valued at $848,022.09. The disclosure for this sale can be found here. Insiders have sold 1,384,833 shares of company stock valued at $374,590,627 in the last ninety days. Company insiders own 14.14% of the company’s stock.
FB has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Facebook from $340.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. Loop Capital lifted their price target on shares of Facebook from $330.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday, February 16th. Bank of America reaffirmed a “buy” rating and set a $345.00 price target on shares of Facebook in a research report on Friday, January 15th. Oppenheimer lifted their price target on shares of Facebook from $345.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, January 28th. Finally, Zacks Investment Research upgraded shares of Facebook from a “hold” rating to a “strong-buy” rating and set a $297.00 price objective on the stock in a research note on Monday, February 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $323.98.
Shares of NASDAQ FB traded up $3.38 during trading hours on Tuesday, hitting $263.71. The stock had a trading volume of 841,429 shares, compared to its average volume of 20,207,424. The company has a market capitalization of $750.96 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.29 and a beta of 1.18. The firm’s 50-day moving average price is $265.35 and its two-hundred day moving average price is $270.40. Facebook, Inc. has a 52 week low of $137.10 and a 52 week high of $304.67.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, January 27th. The social networking company reported $3.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.64. The business had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $26.43 billion. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The firm’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.56 EPS. Equities research analysts anticipate that Facebook, Inc. will post 9.39 earnings per share for the current fiscal year.
Facebook Company Profile
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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