United Capital Financial Advisers LLC raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 7.7% in the 2nd quarter, Holdings Channel reports. The firm owned 200,040 shares of the social networking company’s stock after purchasing an additional 14,286 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Facebook were worth $38,608,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Whitnell & Co. purchased a new position in Facebook in the fourth quarter valued at about $26,000. Cordasco Financial Network grew its stake in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after acquiring an additional 70 shares during the last quarter. Shamrock Asset Management LLC purchased a new stake in shares of Facebook during the second quarter worth about $38,000. Clean Yield Group purchased a new stake in shares of Facebook during the second quarter worth about $39,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Facebook during the second quarter worth about $41,000. Institutional investors and hedge funds own 63.60% of the company’s stock.
NASDAQ:FB traded up $0.08 during trading hours on Friday, reaching $187.55. The company had a trading volume of 566,480 shares, compared to its average volume of 11,753,617. Facebook, Inc. has a 1-year low of $123.02 and a 1-year high of $208.66. The firm has a market cap of $531.13 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The business’s 50 day moving average price is $187.42 and its 200-day moving average price is $182.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion during the quarter, compared to the consensus estimate of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The business’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 EPS. On average, analysts expect that Facebook, Inc. will post 8.03 earnings per share for the current fiscal year.
In other news, CEO Mark Zuckerberg sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $179.16, for a total transaction of $1,272,036.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,134 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $185.45, for a total value of $210,300.30. Following the transaction, the chief accounting officer now directly owns 1,037 shares of the company’s stock, valued at $192,311.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,244,072 shares of company stock valued at $416,434,607. Corporate insiders own 14.53% of the company’s stock.
A number of equities research analysts have recently weighed in on FB shares. ValuEngine lowered Facebook from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Susquehanna Bancshares boosted their price target on Facebook from $225.00 to $245.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Monness Crespi & Hardt boosted their price target on Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Loop Capital boosted their price target on Facebook from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, SunTrust Banks restated a “buy” rating and set a $215.00 price target on shares of Facebook in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $220.92.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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