Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Facebook, Inc. (NASDAQ:FB) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,883,858 shares of the social networking company’s stock after buying an additional 162,659 shares during the quarter. Facebook makes up about 1.5% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 5th biggest position. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Facebook worth $1,039,325,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI grew its stake in Facebook by 20.0% during the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares during the last quarter. D. Scott Neal Inc. grew its stake in Facebook by 1,358.0% during the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in Facebook by 4.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after buying an additional 34 shares during the last quarter. Pacific Center for Financial Services grew its stake in Facebook by 10.7% during the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 88 shares during the last quarter. Finally, Crow Point Partners LLC bought a new stake in Facebook during the second quarter worth about $142,000. 57.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on FB shares. Robert W. Baird reiterated an “outperform” rating and set a $163.00 target price on shares of Facebook in a research report on Tuesday, July 18th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 target price (up from $165.00) on shares of Facebook in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) set a $180.00 target price on shares of Facebook and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Deutsche Bank AG upped their target price on shares of Facebook from $185.00 to $189.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of Facebook in a research report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, forty-three have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $197.95.
In other Facebook news, insider Michael Todd Schroepfer sold 38,055 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $172.60, for a total transaction of $6,568,293.00. Following the completion of the sale, the insider now owns 533,937 shares in the company, valued at approximately $92,157,526.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $180.35, for a total transaction of $135,262.50. Following the sale, the vice president now owns 88,091 shares of the company’s stock, valued at approximately $15,887,211.85. The disclosure for this sale can be found here. Insiders have sold a total of 4,890,410 shares of company stock worth $859,895,025 in the last quarter. 19.08% of the stock is owned by corporate insiders.
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Facebook, Inc. (NASDAQ:FB) opened at $178.07 on Wednesday. Facebook, Inc. has a 1 year low of $114.00 and a 1 year high of $182.90. The stock has a market cap of $519,471.31, a price-to-earnings ratio of 34.44, a P/E/G ratio of 1.15 and a beta of 0.67.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. During the same quarter in the previous year, the company earned $1.09 EPS. Facebook’s quarterly revenue was up 47.3% compared to the same quarter last year. equities research analysts expect that Facebook, Inc. will post 5.81 earnings per share for the current year.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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