Montag & Caldwell LLC lowered its position in Facebook, Inc. (NASDAQ:FB) by 15.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,039,811 shares of the social networking company’s stock after selling 193,857 shares during the quarter. Facebook makes up about 4.6% of Montag & Caldwell LLC’s portfolio, making the stock its 3rd biggest position. Montag & Caldwell LLC’s holdings in Facebook were worth $156,991,000 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. increased its position in shares of Facebook by 4.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after acquiring an additional 34 shares during the period. 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.
Several equities analysts recently issued reports on FB shares. Credit Suisse Group AG reissued 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. (FB) traded up $0.31 during trading on Tuesday, hitting $178.77. 9,523,400 shares of the stock traded hands, compared to its average volume of 16,942,975. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $182.90. The firm has a market capitalization of $518,340.00, a price-to-earnings 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 results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. The business 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 revenue was up 47.3% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. sell-side analysts anticipate that Facebook, Inc. will post 5.81 earnings per share for the current year.
In related news, CFO David M. Wehner sold 15,470 shares of Facebook stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $167.16, for a total value of $2,585,965.20. Following the sale, the chief financial officer now directly owns 62,375 shares in the company, valued at approximately $10,426,605. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 254,525 shares of Facebook stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $166.97, for a total transaction of $42,498,039.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,843,902 shares of company stock valued at $1,362,490,758. 19.08% of the stock is owned by company insiders.
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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