First Mercantile Trust Co. lowered its position in Facebook, Inc. (NASDAQ:FB) by 16.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,633 shares of the social networking company’s stock after selling 7,085 shares during the quarter. Facebook makes up about 1.0% of First Mercantile Trust Co.’s portfolio, making the stock its 12th biggest position. First Mercantile Trust Co.’s holdings in Facebook were worth $5,380,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in FB. Arcadia Investment Management Corp MI lifted its holdings in shares of Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after purchasing an additional 120 shares during the last quarter. D. Scott Neal Inc. lifted its holdings in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Facebook by 4.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the last quarter. Pacific Center for Financial Services increased its position in shares of Facebook by 10.7% in the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after acquiring an additional 88 shares during the period. Finally, Watermark Asset Management Inc. acquired a new position in shares of Facebook in the 1st quarter valued at $141,000. 57.35% of the stock is currently owned by institutional investors.
Facebook, Inc. (NASDAQ FB) traded up $0.31 during trading hours on Tuesday, reaching $178.77. 9,523,400 shares of the company’s stock were exchanged, compared to its average volume of 16,942,975. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $182.90. The stock has a market capitalization of $518,340.00, a P/E ratio of 34.38, a P/E/G ratio of 1.14 and a beta of 0.67.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. analysts forecast that Facebook, Inc. will post 5.81 EPS for the current year.
In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $168.25, for a total value of $126,187.50. Following the sale, the vice president now directly owns 96,341 shares in the company, valued at approximately $16,209,373.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Todd Schroepfer sold 38,055 shares of Facebook stock in a transaction dated 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 $92,157,526.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,843,902 shares of company stock valued at $1,362,490,758. Company insiders own 19.08% of the company’s stock.
Several equities research analysts have weighed in on FB shares. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Facebook in a research report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) set a $205.00 price target on Facebook and gave the stock a “buy” rating in a research report on Friday, October 20th. Barclays PLC raised their target price on Facebook from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Robert W. Baird restated a “buy” rating and set a $185.00 target price on shares of Facebook in a research report on Friday, September 1st. Finally, Needham & Company LLC raised their target price on Facebook from $185.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Two equities research 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’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $197.95.
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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