Balasa Dinverno & Foltz LLC boosted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 14.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,693 shares of the social networking company’s stock after buying an additional 1,483 shares during the period. Facebook accounts for 0.3% of Balasa Dinverno & Foltz LLC’s investment portfolio, making the stock its 27th largest position. Balasa Dinverno & Foltz LLC’s holdings in Facebook were worth $2,272,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Commerce Bank increased its stake in Facebook by 1.4% in the 1st quarter. Commerce Bank now owns 379,115 shares of the social networking company’s stock valued at $60,579,000 after buying an additional 5,299 shares during the last quarter. Adirondack Trust Co. increased its stake in Facebook by 10.9% in the 1st quarter. Adirondack Trust Co. now owns 6,611 shares of the social networking company’s stock valued at $1,137,000 after buying an additional 648 shares during the last quarter. Aviance Capital Partners LLC increased its stake in Facebook by 97.8% in the 1st quarter. Aviance Capital Partners LLC now owns 31,730 shares of the social networking company’s stock valued at $5,070,000 after buying an additional 15,687 shares during the last quarter. Zions Bancorporation acquired a new stake in Facebook in the 1st quarter valued at $1,350,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in Facebook in the 1st quarter valued at $626,000. 60.30% of the stock is currently owned by institutional investors.
In other news, CEO Mark Zuckerberg sold 602,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $176.67, for a total transaction of $106,355,340.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $155.00, for a total transaction of $116,250.00. Following the sale, the vice president now directly owns 90,894 shares of the company’s stock, valued at approximately $14,088,570. The disclosure for this sale can be found here. Insiders sold a total of 3,626,282 shares of company stock valued at $641,081,083 in the last three months. Insiders own 16.25% of the company’s stock.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a net margin of 39.31% and a return on equity of 28.16%. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.59 EPS. On average, equities research analysts expect that Facebook, Inc. will post 7.05 earnings per share for the current fiscal year.
Several research firms have recently weighed in on FB. Nomura began coverage on shares of Facebook in a research note on Tuesday, July 10th. They set a “buy” rating and a $228.00 price objective on the stock. Piper Jaffray Companies boosted their price objective on shares of Facebook to $250.00 and gave the stock an “in-line” rating in a research note on Friday, July 20th. UBS Group lowered shares of Facebook from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $212.00 to $180.00 in a research note on Thursday, July 26th. Raymond James lowered shares of Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price objective on the stock. in a research note on Thursday, July 26th. Finally, Cowen lowered their price objective on shares of Facebook from $235.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 26th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $195.65.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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