World Asset Management Inc decreased its stake in shares of Facebook Inc (NASDAQ:FB) by 0.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 227,052 shares of the social networking company’s stock after selling 761 shares during the quarter. Facebook comprises 1.3% of World Asset Management Inc’s holdings, making the stock its 4th largest position. World Asset Management Inc owned 7,818.06% of Facebook worth $38,796,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in FB. First American Bank increased its stake in Facebook by 6.6% during the second quarter. First American Bank now owns 38,474 shares of the social networking company’s stock worth $5,809,000 after acquiring an additional 2,371 shares during the last quarter. Charter Trust Co. increased its stake in Facebook by 9.7% during the second quarter. Charter Trust Co. now owns 1,867 shares of the social networking company’s stock worth $282,000 after acquiring an additional 165 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in Facebook during the second quarter worth $335,000. Evanson Asset Management LLC increased its stake in Facebook by 4.1% during the second quarter. Evanson Asset Management LLC now owns 426,053 shares of the social networking company’s stock worth $64,325,000 after acquiring an additional 16,743 shares during the last quarter. Finally, City Holding Co. increased its stake in Facebook by 16.0% during the second quarter. City Holding Co. now owns 13,229 shares of the social networking company’s stock worth $1,997,000 after acquiring an additional 1,825 shares during the last quarter. Hedge funds and other institutional investors own 57.75% of the company’s stock.
Several research firms have issued reports on FB. UBS Group set a $215.00 target price on Facebook and gave the stock a “buy” rating in a research note on Thursday, January 11th. Citigroup reissued a “buy” rating and set a $200.00 target price on shares of Facebook in a research note on Wednesday, September 27th. BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. Cowen reissued an “average” rating and set a $200.00 target price (up previously from $195.00) on shares of Facebook in a research note on Wednesday, September 27th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $190.00 target price on shares of Facebook in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $203.72.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. Facebook’s revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share. analysts expect that Facebook Inc will post 5.86 EPS for the current fiscal year.
In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $176.23, for a total transaction of $132,172.50. Following the completion of the sale, the vice president now directly owns 82,096 shares of the company’s stock, valued at approximately $14,467,778.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Todd Schroepfer sold 38,017 shares of Facebook stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total value of $7,140,733.11. Following the sale, the insider now directly owns 381,521 shares of the company’s stock, valued at $71,661,089.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,181,449 shares of company stock valued at $752,592,962. 17.23% of the stock is currently owned by company insiders.
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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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