Great Lakes Advisors LLC Buys 623 Shares of Facebook, Inc. (FB)
Great Lakes Advisors LLC boosted its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,873 shares of the social networking company’s stock after purchasing an additional 623 shares during the quarter. Great Lakes Advisors LLC’s holdings in Facebook were worth $4,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Markel Corp boosted its holdings in Facebook by 23.6% in the first quarter. Markel Corp now owns 78,500 shares of the social networking company’s stock worth $11,151,000 after acquiring an additional 15,000 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in Facebook in the first quarter worth about $326,000. Arcadia Investment Management Corp MI boosted its holdings in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares in the last quarter. Weatherly Asset Management L. P. boosted its holdings in Facebook by 0.3% in the first quarter. Weatherly Asset Management L. P. now owns 21,854 shares of the social networking company’s stock worth $3,104,000 after acquiring an additional 75 shares in the last quarter. Finally, Ariel Capital Advisors LLC boosted its holdings in Facebook by 14.2% in the first quarter. Ariel Capital Advisors LLC now owns 24,242 shares of the social networking company’s stock worth $3,444,000 after acquiring an additional 3,015 shares in the last quarter. 57.44% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on FB. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $202.00 price target for the company in a report on Tuesday, November 7th. Aegis raised their price target on Facebook from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Citigroup Inc. raised their price target on Facebook from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. They noted that the move was a valuation call. UBS AG set a $208.00 price target on Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, Barclays PLC raised their price target on Facebook from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $197.95.
Facebook, Inc. (NASDAQ FB) opened at $179.00 on Monday. Facebook, Inc. has a one year low of $114.00 and a one year high of $182.90. The firm has a market capitalization of $520,139.66, a P/E ratio of 34.49, a P/E/G ratio of 1.14 and a beta of 0.67.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. During the same period last year, the business posted $1.09 EPS. Facebook’s quarterly revenue was up 47.3% on a year-over-year basis. analysts predict that Facebook, Inc. will post 5.86 EPS for the current year.
In other Facebook news, CEO Mark Zuckerberg sold 254,525 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $166.97, for a total transaction of $42,498,039.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David B. Fischer sold 16,298 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $168.88, for a total value of $2,752,406.24. The disclosure for this sale can be found here. Insiders sold a total of 5,730,694 shares of company stock valued at $1,010,627,616 over the last ninety days. 17.23% of the stock is currently owned by company insiders.
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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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