Balasa Dinverno & Foltz LLC boosted its stake in Facebook, Inc. (NASDAQ:FB) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,282 shares of the social networking company’s stock after buying an additional 9 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in Facebook were worth $1,176,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Facebook during the fourth quarter valued at about $2,046,500,000. HPM Partners LLC purchased a new stake in shares of Facebook during the first quarter valued at about $195,602,000. Alecta Pensionsforsakring Omsesidigt raised its stake in shares of Facebook by 131.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock valued at $279,838,000 after buying an additional 1,120,000 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Facebook by 29.0% in the first quarter. Russell Investments Group Ltd. now owns 3,643,713 shares of the social networking company’s stock valued at $517,583,000 after buying an additional 818,374 shares during the last quarter. Finally, Appaloosa LP increased its stake in shares of Facebook by 47.0% in the fourth quarter. Appaloosa LP now owns 2,182,350 shares of the social networking company’s stock valued at $251,079,000 after buying an additional 697,742 shares during the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.
Facebook, Inc. (NASDAQ:FB) opened at 168.08 on Friday. Facebook, Inc. has a one year low of $113.55 and a one year high of $175.49. The stock has a market cap of $488.14 billion, a PE ratio of 37.62 and a beta of 0.70. The stock has a 50 day moving average price of $161.50 and a 200-day moving average price of $147.44.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. Equities research analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
Several analysts have weighed in on FB shares. Wells Fargo & Company reiterated an “overweight” rating on shares of Facebook in a research report on Wednesday, April 19th. Zacks Investment Research downgraded Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Facebook in a research report on Thursday, July 27th. Wedbush reiterated a “buy” rating on shares of Facebook in a research report on Thursday, July 27th. Finally, Macquarie set a $175.00 price objective on Facebook and gave the company a “buy” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have assigned a buy rating and three have given a strong buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and an average price target of $182.00.
In related news, Director Susan Desmond-Hellmann sold 209 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $144.67, for a total value of $30,236.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Koum sold 594,246 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $149.73, for a total value of $88,976,453.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,221,076 shares of company stock valued at $1,613,683,519. Insiders own 19.08% of the company’s stock.
About Facebook
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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