Macguire Cheswick & Tuttle Investment Counsel LLC Increases Holdings in Facebook Inc (FB)

Macguire Cheswick & Tuttle Investment Counsel LLC boosted its position in Facebook Inc (NASDAQ:FB) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,439 shares of the social networking company’s stock after purchasing an additional 325 shares during the period. Facebook comprises 2.9% of Macguire Cheswick & Tuttle Investment Counsel LLC’s portfolio, making the stock its 13th biggest holding. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Facebook were worth $14,770,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FB. Vanguard Group Inc. raised its stake in shares of Facebook by 3.3% in the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after buying an additional 5,151,190 shares during the period. BlackRock Inc. raised its stake in shares of Facebook by 3.0% in the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after buying an additional 4,032,727 shares during the period. State Street Corp raised 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 during the period. Capital World Investors raised its stake in shares of Facebook by 1.5% in the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after buying an additional 833,810 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Facebook by 0.4% in the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after buying an additional 114,694 shares during the period. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Facebook Inc (FB) opened at $184.33 on Friday. The company has a market capitalization of $535,630.00, a P/E ratio of 34.26, a PEG ratio of 1.03 and a beta of 0.68. Facebook Inc has a 1-year low of $118.32 and a 1-year high of $186.21.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.31. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. analysts expect that Facebook Inc will post 5.86 earnings per share for the current year.

Several analysts recently issued reports on the company. Cowen reissued a “buy” rating and set a $220.00 target price on shares of Facebook in a research note on Thursday. Wells Fargo & Co reissued an “outperform” rating and set a $215.00 target price (up previously from $185.00) on shares of Facebook in a research note on Wednesday, September 27th. Royal Bank of Canada reissued a “buy” rating and set a $195.00 target price on shares of Facebook in a research note on Friday, October 13th. Wedbush reissued an “outperform” rating and set a $230.00 target price (up previously from $225.00) on shares of Facebook in a research note on Thursday, November 2nd. Finally, Macquarie set a $205.00 target price on Facebook and gave the company a “buy” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, forty-four have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $201.84.

In related news, insider Michael Todd Schroepfer sold 38,058 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $171.51, for a total transaction of $6,527,327.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $176.23, for a total value of $132,172.50. Following the transaction, the vice president now owns 82,096 shares of the company’s stock, valued at approximately $14,467,778.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,568,712 shares of company stock valued at $818,756,804. Company insiders own 17.23% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was posted by Transcript Daily and is owned by of Transcript Daily. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://transcriptdaily.com/2018/01/05/macguire-cheswick-tuttle-investment-counsel-llc-increases-holdings-in-facebook-inc-fb.html.

Facebook 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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply