Cedar Capital LLC Grows Position in Facebook, Inc. (FB)
Cedar Capital LLC increased its holdings in Facebook, Inc. (NASDAQ:FB) by 31.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,215 shares of the social networking company’s stock after acquiring an additional 2,895 shares during the quarter. Facebook makes up about 1.0% of Cedar Capital LLC’s investment portfolio, making the stock its 16th largest position. Cedar Capital LLC’s holdings in Facebook were worth $2,374,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Facebook by 2.0% during the first quarter. BlackRock Inc. now owns 149,137,226 shares of the social networking company’s stock valued at $23,830,637,000 after buying an additional 2,966,437 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Facebook by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 22,102,171 shares of the social networking company’s stock valued at $4,294,895,000 after acquiring an additional 184,595 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Facebook by 9.9% during the second quarter. Jennison Associates LLC now owns 15,147,053 shares of the social networking company’s stock valued at $2,943,375,000 after acquiring an additional 1,360,607 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Facebook by 0.5% during the first quarter. Loomis Sayles & Co. L P now owns 12,937,287 shares of the social networking company’s stock valued at $2,067,249,000 after acquiring an additional 58,561 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in shares of Facebook by 4,170.3% during the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock valued at $9,071,000 after acquiring an additional 8,858,520 shares in the last quarter. 58.98% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the stock. UBS Group downgraded shares of Facebook from a “buy” rating to a “neutral” rating and cut their price objective for the company from $212.00 to $180.00 in a report on Thursday, July 26th. Raymond James downgraded shares of Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price objective on the stock. in a report on Thursday, July 26th. Cowen cut their price objective on shares of Facebook from $235.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, July 26th. Wells Fargo & Co restated a “buy” rating and set a $220.00 price objective on shares of Facebook in a report on Thursday, August 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, September 18th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $194.54.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the company earned $1.59 EPS. Analysts predict that Facebook, Inc. will post 7.35 earnings per share for the current fiscal year.
In other Facebook news, CEO Mark Zuckerberg sold 195,000 shares of Facebook stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $177.42, for a total value of $34,596,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Wehner sold 4,761 shares of Facebook stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $141.10, for a total value of $671,777.10. Following the completion of the transaction, the chief financial officer now directly owns 76,830 shares of the company’s stock, valued at $10,840,713. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,739,660 shares of company stock valued at $298,124,908. 16.25% of the stock is currently owned by corporate insiders.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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