Aldebaran Financial Inc. held its stake in shares of Facebook, Inc. (NASDAQ:FB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,036 shares of the social networking company’s stock at the end of the first quarter. Facebook accounts for approximately 2.4% of Aldebaran Financial Inc.’s portfolio, making the stock its 13th largest position. Aldebaran Financial Inc.’s holdings in Facebook were worth $3,130,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Facebook during the fourth quarter worth $2,046,500,000. State Street Corp boosted its stake in shares of Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares in the last quarter. HPM Partners LLC bought a new stake in shares of Facebook during the first quarter worth $195,602,000. Alecta Pensionsforsakring Omsesidigt boosted 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 worth $279,838,000 after buying an additional 1,120,000 shares in the last quarter. Finally, Karp Capital Management Corp boosted its stake in shares of Facebook by 6,222.5% in the first quarter. Karp Capital Management Corp now owns 896,406 shares of the social networking company’s stock worth $127,334,000 after buying an additional 882,228 shares in the last quarter. 57.40% of the stock is owned by institutional investors.
Shares of Facebook, Inc. (NASDAQ:FB) traded up 0.06% during trading on Monday, hitting $167.51. The stock had a trading volume of 6,766,685 shares. The firm has a 50-day moving average of $163.85 and a 200 day moving average of $148.79. The company has a market capitalization of $486.48 billion, a P/E ratio of 37.49 and a beta of 0.70. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. Equities research analysts predict that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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A number of analysts have weighed in on FB shares. Pacific Crest reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Facebook in a research report on Monday, April 24th. Needham & Company LLC boosted their price objective on Facebook from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Wedbush set a $185.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Thursday, May 4th. Morgan Stanley reissued a “buy” rating and set a $175.00 price objective on shares of Facebook in a research report on Thursday, May 4th. Finally, Nomura set a $165.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have issued a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $183.74.
In other news, COO Sheryl Sandberg sold 163,500 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $149.55, for a total transaction of $24,451,425.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $171.15, for a total transaction of $128,362.50. Following the sale, the vice president now owns 90,087 shares in the company, valued at approximately $15,418,390.05. The disclosure for this sale can be found here. Insiders sold a total of 12,686,398 shares of company stock worth $2,052,460,180 over the last quarter. Corporate 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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