InterOcean Capital LLC increased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 10.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,366 shares of the social networking company’s stock after purchasing an additional 678 shares during the quarter. InterOcean Capital LLC’s holdings in Facebook were worth $1,229,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Facebook by 3.3% in the 4th quarter. FMR LLC now owns 123,422,389 shares of the social networking company’s stock valued at $25,332,445,000 after purchasing an additional 3,993,741 shares during the period. State Street Corp grew its holdings in shares of Facebook by 0.9% during the fourth quarter. State Street Corp now owns 94,316,951 shares of the social networking company’s stock worth $19,358,554,000 after buying an additional 881,118 shares in the last quarter. Capital Research Global Investors raised its position in Facebook by 0.6% in the 4th quarter. Capital Research Global Investors now owns 73,111,043 shares of the social networking company’s stock valued at $15,006,041,000 after buying an additional 409,290 shares during the last quarter. Capital World Investors lifted its stake in Facebook by 5.4% in the 4th quarter. Capital World Investors now owns 46,700,441 shares of the social networking company’s stock valued at $9,585,263,000 after acquiring an additional 2,405,542 shares in the last quarter. Finally, Capital International Investors boosted its position in Facebook by 1.8% during the 4th quarter. Capital International Investors now owns 45,189,119 shares of the social networking company’s stock worth $9,275,066,000 after acquiring an additional 781,073 shares during the last quarter. Hedge funds and other institutional investors own 65.13% of the company’s stock.
A number of analysts have recently commented on the stock. KeyCorp cut their price objective on shares of Facebook from $263.00 to $248.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Edward Jones raised shares of Facebook from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Morgan Stanley restated an “overweight” rating and issued a $230.00 price objective (up previously from $185.00) on shares of Facebook in a report on Thursday, April 30th. Monness Crespi & Hardt lowered their target price on Facebook from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. increased their price target on Facebook from $215.00 to $240.00 in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, forty-one have assigned 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 a consensus price target of $240.98.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, April 29th. The social networking company reported $1.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($0.07). The company had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.25 billion. Facebook had a net margin of 28.57% and a return on equity of 21.54%. Facebook’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. Sell-side analysts forecast that Facebook, Inc. will post 7.25 earnings per share for the current fiscal year.
In other Facebook news, CAO Susan J.S. Taylor sold 1,195 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $223.39, for a total transaction of $266,951.05. Following the completion of the transaction, the chief accounting officer now directly owns 3,147 shares in the company, valued at $703,008.33. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David M. Wehner sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $219.90, for a total transaction of $1,759,200.00. Following the transaction, the chief financial officer now owns 32,917 shares of the company’s stock, valued at $7,238,448.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,199 shares of company stock valued at $13,967,456. 14.14% of the stock is owned by insiders.
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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