Balasa Dinverno & Foltz LLC Increases Holdings in Facebook, Inc. (FB)
Balasa Dinverno & Foltz LLC raised its position in Facebook, Inc. (NASDAQ:FB) by 10.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,149 shares of the social networking company’s stock after acquiring an additional 867 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in Facebook were worth $1,381,000 as of its most recent filing with the SEC.
A number of other institutional 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% in the first 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 in the last quarter. D. Scott Neal Inc. lifted its holdings in shares of Facebook by 1,358.0% in the second 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 in the last quarter. Cohen Capital Management Inc. bought a new position in shares of Facebook in the first quarter valued at approximately $121,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares in the last quarter. Finally, Pacific Center for Financial Services lifted its holdings in shares of Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares in the last quarter. 57.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Facebook, Inc. (NASDAQ:FB) opened at 170.54 on Monday. The firm’s 50-day moving average price is $170.12 and its 200 day moving average price is $154.54. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49. The stock has a market capitalization of $495.28 billion, a P/E ratio of 38.17 and a beta of 0.76.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current year.
In other Facebook news, CEO Mark Zuckerberg sold 281,436 shares of Facebook stock in a transaction on Friday, June 30th. The shares were sold at an average price of $151.01, for a total value of $42,499,650.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $173.58, for a total transaction of $130,185.00. Following the completion of the transaction, the vice president now directly owns 94,091 shares in the company, valued at $16,332,315.78. The disclosure for this sale can be found here. Insiders sold 12,948,842 shares of company stock valued at $2,121,156,283 in the last three months. 19.08% of the stock is currently owned by insiders.
A number of research analysts have recently weighed in on the company. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $180.74 target price on the stock in a report on Monday. Mizuho restated a “buy” rating and issued a $230.00 target price on shares of Facebook in a report on Wednesday, September 20th. Pivotal Research restated a “sell” rating and issued a $140.00 target price on shares of Facebook in a report on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and issued a $185.00 target price on shares of Facebook in a report on Friday, September 1st. Finally, SunTrust Banks, Inc. assumed coverage on Facebook in a report on Tuesday, August 15th. They issued a “buy” rating and a $210.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $185.67.
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Facebook Company Profile
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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