Hyperion Asset Management Ltd grew its stake in Facebook, Inc. (NASDAQ:FB) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,688 shares of the social networking company’s stock after purchasing an additional 1,195 shares during the period. Facebook makes up about 5.3% of Hyperion Asset Management Ltd’s holdings, making the stock its 7th largest holding. Hyperion Asset Management Ltd’s holdings in Facebook were worth $52,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of FB. State Street Corp grew its position in shares of Facebook by 1.2% in the first quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock valued at $15,920,894,000 after purchasing an additional 1,132,053 shares in the last quarter. Morgan Stanley grew its position in shares of Facebook by 2.4% in the first quarter. Morgan Stanley now owns 17,661,522 shares of the social networking company’s stock valued at $2,945,942,000 after purchasing an additional 412,559 shares in the last quarter. AXA grew its position in shares of Facebook by 4.0% in the first quarter. AXA now owns 1,201,556 shares of the social networking company’s stock valued at $200,420,000 after purchasing an additional 46,185 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Facebook in the second quarter valued at approximately $217,000. Finally, Thomasville National Bank grew its position in shares of Facebook by 4.5% in the second quarter. Thomasville National Bank now owns 2,779 shares of the social networking company’s stock valued at $631,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.
Several research analysts recently weighed in on the company. Oppenheimer increased their price objective on Facebook from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. 140166 increased their price objective on Facebook from $285.00 to $310.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Barclays increased their price objective on Facebook from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Mizuho increased their price objective on Facebook from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup increased their price objective on Facebook from $275.00 to $315.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $284.28.
In other Facebook news, CAO Susan J.S. Taylor sold 1,133 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $261.39, for a total transaction of $296,154.87. Following the transaction, the chief accounting officer now owns 4,182 shares of the company’s stock, valued at $1,093,132.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO David B. Fischer sold 13,110 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $293.95, for a total value of $3,853,684.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,487 shares of company stock worth $9,557,944. Corporate insiders own 14.14% of the company’s stock.
Facebook stock opened at $280.83 on Friday. Facebook, Inc. has a 1-year low of $137.10 and a 1-year high of $304.67. The stock has a market cap of $800.03 billion, a PE ratio of 34.29, a P/E/G ratio of 1.71 and a beta of 1.29. The stock’s fifty day moving average is $264.88 and its two-hundred day moving average is $241.45.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.80. Facebook had a return on equity of 22.90% and a net margin of 31.29%. The company had revenue of $21.47 billion for the quarter, compared to analysts’ expectations of $19.78 billion. During the same period last year, the firm earned $2.12 earnings per share. Facebook’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, analysts anticipate that Facebook, Inc. will post 8.12 earnings per share for the current year.
Facebook Company Profile
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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