South Street Advisors LLC reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,156 shares of the social networking company’s stock after selling 4,803 shares during the quarter. Facebook accounts for approximately 5.0% of South Street Advisors LLC’s holdings, making the stock its 4th biggest position. South Street Advisors LLC’s holdings in Facebook were worth $20,731,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in FB. State Street Corp raised its stake in shares of Facebook by 1.2% in the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock valued at $15,920,894,000 after buying an additional 1,132,053 shares in the last quarter. Morgan Stanley raised its stake in shares of Facebook by 2.4% in the 1st quarter. Morgan Stanley now owns 17,661,522 shares of the social networking company’s stock valued at $2,945,942,000 after buying an additional 412,559 shares in the last quarter. AXA raised its stake in shares of Facebook by 4.0% in the 1st quarter. AXA now owns 1,201,556 shares of the social networking company’s stock valued at $200,420,000 after buying an additional 46,185 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Facebook in the 2nd quarter valued at $217,000. Finally, Thomasville National Bank raised its stake in shares of Facebook by 4.5% in the 2nd quarter. Thomasville National Bank now owns 2,779 shares of the social networking company’s stock valued at $631,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.
Shares of FB stock opened at $280.83 on Friday. The company has a market capitalization of $800.03 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.29. The company’s 50 day moving average price is $264.88 and its two-hundred day moving average price is $241.45. Facebook, Inc. has a 52 week low of $137.10 and a 52 week high of $304.67.
Facebook (NASDAQ:FB) last announced its earnings results on Thursday, October 29th. The social networking company reported $2.71 EPS for the quarter, topping the consensus estimate of $1.91 by $0.80. The firm had revenue of $21.47 billion for the quarter, compared to the consensus estimate of $19.78 billion. Facebook had a net margin of 31.29% and a return on equity of 22.90%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the company posted $2.12 EPS. On average, sell-side analysts forecast that Facebook, Inc. will post 8.12 earnings per share for the current year.
In other news, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $251.57, for a total value of $48,804.58. Following the sale, the vice president now directly owns 1,724 shares in the company, valued at $433,706.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Wehner sold 1,806 shares of Facebook stock in a transaction that occurred on Saturday, August 15th. The shares were sold at an average price of $261.24, for a total transaction of $471,799.44. The disclosure for this sale can be found here. Insiders have sold a total of 34,487 shares of company stock worth $9,557,944 over the last 90 days. Corporate insiders own 14.14% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Facebook from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, July 31st. They noted that the move was a valuation call. KeyCorp increased their price objective on shares of Facebook from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday. BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group set a $303.00 target price on shares of Facebook and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Finally, Monness Crespi & Hardt increased their target price on shares of Facebook from $230.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $284.28.
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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