Argent Trust Co Acquires 4,938 Shares of Facebook, Inc. (NASDAQ:FB)

Share on StockTwits

Argent Trust Co lifted its holdings in Facebook, Inc. (NASDAQ:FB) by 11.7% during the first quarter, HoldingsChannel.com reports. The firm owned 47,271 shares of the social networking company’s stock after purchasing an additional 4,938 shares during the period. Argent Trust Co’s holdings in Facebook were worth $7,885,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Carnegie Capital Asset Management LLC increased its holdings in Facebook by 1.2% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 105,111 shares of the social networking company’s stock worth $21,574,000 after buying an additional 1,214 shares during the last quarter. Ancora Advisors LLC increased its holdings in Facebook by 5.0% during the fourth quarter. Ancora Advisors LLC now owns 11,601 shares of the social networking company’s stock worth $2,381,000 after buying an additional 549 shares during the last quarter. AMG National Trust Bank acquired a new position in Facebook during the fourth quarter worth $204,000. Equitable Holdings Inc. acquired a new position in Facebook during the fourth quarter worth $14,881,000. Finally, Dai Ichi Life Insurance Company Ltd increased its holdings in Facebook by 0.5% during the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 235,449 shares of the social networking company’s stock worth $48,326,000 after buying an additional 1,203 shares during the last quarter. 65.13% of the stock is currently owned by institutional investors and hedge funds.

In other news, CAO Susan J.S. Taylor sold 1,195 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total value of $266,951.05. Following the completion of the transaction, the chief accounting officer now owns 3,147 shares of the company’s stock, valued at $703,008.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO David B. Fischer sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the transaction, the executive now directly owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The disclosure for this sale can be found here. Insiders sold 68,199 shares of company stock valued at $13,967,456 in the last three months. Company insiders own 14.14% of the company’s stock.

Shares of FB stock traded up $4.35 on Friday, reaching $235.74. The company had a trading volume of 22,428,898 shares, compared to its average volume of 25,035,788. The stock has a market capitalization of $659.25 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. Facebook, Inc. has a one year low of $137.10 and a one year high of $237.20. The business’s 50-day moving average is $189.06 and its 200 day moving average is $195.81.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, April 29th. The social networking company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.07). The company had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.25 billion. Facebook had a return on equity of 21.54% and a net margin of 28.57%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. On average, sell-side analysts forecast that Facebook, Inc. will post 7.25 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on FB shares. BMO Capital Markets boosted their target price on shares of Facebook from $180.00 to $190.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Canaccord Genuity boosted their target price on shares of Facebook from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. KeyCorp lowered their target price on shares of Facebook from $263.00 to $248.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Nomura Securities reiterated a “buy” rating and issued a $253.00 price objective on shares of Facebook in a report on Sunday, March 29th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $250.00 price objective on shares of Facebook in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, forty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $240.98.

Facebook Profile

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.

Further Reading: Is it better to buy a fund with a higher or lower NAV?

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.