Whitener Capital Management Inc. raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,547 shares of the social networking company’s stock after acquiring an additional 1,500 shares during the quarter. Facebook comprises approximately 0.8% of Whitener Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Whitener Capital Management Inc.’s holdings in Facebook were worth $1,456,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Cantor Fitzgerald Investment Adviser L.P. purchased a new position in shares of Facebook during the 2nd quarter valued at $205,000. Executive Wealth Management LLC purchased a new position in shares of Facebook during the 4th quarter valued at $5,196,000. Ruggie Capital Group grew its position in shares of Facebook by 53.8% during the 4th quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock valued at $58,000 after purchasing an additional 156 shares in the last quarter. Heritage Investors Management Corp grew its position in shares of Facebook by 13.1% during the 4th quarter. Heritage Investors Management Corp now owns 36,210 shares of the social networking company’s stock valued at $4,747,000 after purchasing an additional 4,190 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Facebook during the 4th quarter valued at $80,000. 62.11% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on FB. SunTrust Banks restated a “buy” rating and set a $215.00 price target on shares of Facebook in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Facebook from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Nomura upped their target price on shares of Facebook from $226.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets cut their target price on shares of Facebook to $195.00 and set a “market perform” rating for the company in a research report on Tuesday, July 23rd. Finally, UBS Group reiterated a “buy” rating and issued a $240.00 target price on shares of Facebook in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have given a buy rating to the stock. Facebook presently has a consensus rating of “Buy” and an average price target of $220.92.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The business had revenue of $16.89 billion during the quarter, compared to analyst estimates of $16.49 billion. During the same period in the prior year, the business posted $1.74 earnings per share. The company’s revenue was up 27.6% on a year-over-year basis. As a group, analysts expect that Facebook, Inc. will post 7.96 earnings per share for the current fiscal year.
In other news, insider Susan J.S. Taylor sold 1,472 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $181.89, for a total transaction of $267,742.08. Following the completion of the transaction, the insider now directly owns 569 shares of the company’s stock, valued at $103,495.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 125,600 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $184.50, for a total transaction of $23,173,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 863,283 shares of company stock valued at $160,819,836. Insiders own 14.53% of the company’s stock.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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