55I LLC raised its holdings in Facebook, Inc. (NASDAQ:FB) by 3.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,118 shares of the social networking company’s stock after acquiring an additional 95 shares during the quarter. 55I LLC’s holdings in Facebook were worth $918,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Facebook by 0.6% in the fourth quarter. BlackRock Inc. now owns 159,655,331 shares of the social networking company’s stock worth $43,611,449,000 after purchasing an additional 910,971 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Facebook by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 101,745,652 shares of the social networking company’s stock valued at $27,762,764,000 after buying an additional 919,615 shares in the last quarter. Morgan Stanley grew its stake in shares of Facebook by 44.5% during the fourth quarter. Morgan Stanley now owns 30,382,192 shares of the social networking company’s stock valued at $8,299,199,000 after buying an additional 9,362,408 shares during the last quarter. Norges Bank purchased a new stake in Facebook during the 4th quarter valued at about $8,021,574,000. Finally, Alliancebernstein L.P. lifted its position in Facebook by 1.9% in the fourth quarter. Alliancebernstein L.P. now owns 19,999,781 shares of the social networking company’s stock valued at $5,463,140,000 after purchasing an additional 367,313 shares during the last quarter. Institutional investors own 64.95% of the company’s stock.
Several equities analysts have recently commented on the stock. Truist upped their price objective on shares of Facebook from $350.00 to $400.00 in a research note on Thursday, April 29th. Credit Suisse Group upped their price objective on shares of Facebook from $330.00 to $371.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. Susquehanna Bancshares increased their price target on shares of Facebook from $375.00 to $425.00 and gave the stock a “positive” rating in a research note on Thursday, April 29th. Moffett Nathanson lifted their price target on Facebook from $285.00 to $325.00 in a research report on Friday, January 15th. Finally, JMP Securities increased their price target on shares of Facebook from $355.00 to $395.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $366.87.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, April 28th. The social networking company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.94. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The firm had revenue of $26.20 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the previous year, the firm earned $1.71 EPS. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. On average, research analysts forecast that Facebook, Inc. will post 9.39 earnings per share for the current fiscal year.
In other Facebook news, CEO Mark Zuckerberg sold 68,000 shares of the firm’s stock in a transaction on Wednesday, April 7th. The stock was sold at an average price of $310.73, for a total transaction of $21,129,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Wehner sold 16,000 shares of the business’s stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $330.10, for a total transaction of $5,281,600.00. Following the completion of the sale, the chief financial officer now owns 18,425 shares in the company, valued at $6,082,092.50. The disclosure for this sale can be found here. Insiders sold 1,764,422 shares of company stock valued at $518,500,961 over the last 90 days. Company insiders own 14.14% of the company’s stock.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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