Virginia Retirement Systems ET AL Acquires 21,000 Shares of Facebook, Inc. (FB)
Virginia Retirement Systems ET AL raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,300 shares of the social networking company’s stock after acquiring an additional 21,000 shares during the period. Facebook comprises approximately 1.5% of Virginia Retirement Systems ET AL’s portfolio, making the stock its 5th biggest holding. Virginia Retirement Systems ET AL’s holdings in Facebook were worth $120,678,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Arcadia Investment Management Corp MI grew its position in Facebook by 20.0% during the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after acquiring an additional 120 shares during the last quarter. D. Scott Neal Inc. grew 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 worth $110,000 after purchasing an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. grew 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 worth $122,000 after purchasing an additional 34 shares during the last quarter. Pacific Center for Financial Services grew 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 worth $129,000 after purchasing an additional 88 shares during the last quarter. Finally, Watermark Asset Management Inc. bought a new position in shares of Facebook in the first quarter worth approximately $141,000. Institutional investors and hedge funds own 57.35% of the company’s stock.
In related news, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $180.27, for a total transaction of $2,884,320.00. Following the completion of the sale, the insider now directly owns 49,816 shares in the company, valued at approximately $8,980,330.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Todd Schroepfer sold 38,055 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $172.60, for a total value of $6,568,293.00. Following the sale, the insider now owns 533,937 shares of the company’s stock, valued at $92,157,526.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,890,410 shares of company stock worth $859,895,025 in the last three months. Corporate insiders own 19.08% of the company’s stock.
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FB has been the topic of several recent analyst reports. Robert W. Baird restated an “outperform” rating and issued a $163.00 target price on shares of Facebook in a report on Tuesday, July 18th. Needham & Company LLC restated a “buy” rating and issued a $185.00 target price (up previously from $165.00) on shares of Facebook in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) set a $180.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Wednesday, July 19th. Deutsche Bank AG raised their target price on shares of Facebook from $185.00 to $189.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Facebook in a report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $197.95.
Facebook, Inc. (NASDAQ:FB) opened at $178.07 on Wednesday. Facebook, Inc. has a 12-month low of $114.00 and a 12-month high of $182.90. The stock has a market capitalization of $519,471.31, a price-to-earnings ratio of 34.44, a PEG ratio of 1.15 and a beta of 0.67.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The business’s revenue was up 47.3% compared to the same quarter last year. equities analysts anticipate that Facebook, Inc. will post 5.81 earnings per share for the current year.
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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