Eagle Ridge Investment Management Makes New Investment in Facebook, Inc. (NASDAQ:FB)

Eagle Ridge Investment Management purchased a new position in shares of Facebook, Inc. (NASDAQ:FB) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,076 shares of the social networking company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Facebook by 1.2% during the first quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after buying an additional 1,132,053 shares in the last quarter. Capital International Investors increased its holdings in shares of Facebook by 14.1% during the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after buying an additional 6,394,036 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Facebook by 2.1% during the first quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock worth $5,794,733,000 after buying an additional 723,655 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Facebook by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 21,748,552 shares of the social networking company’s stock worth $3,627,657,000 after buying an additional 1,251,202 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Facebook by 6.9% during the first quarter. Alliancebernstein L.P. now owns 18,712,332 shares of the social networking company’s stock worth $3,121,217,000 after buying an additional 1,205,780 shares in the last quarter. Hedge funds and other institutional investors own 65.12% of the company’s stock.

FB has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Facebook from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday. Wedbush reissued an “outperform” rating and issued a $300.00 price target (up previously from $250.00) on shares of Facebook in a report on Monday, July 27th. Deutsche Bank raised their price target on shares of Facebook from $220.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley raised their price target on shares of Facebook from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Friday. Finally, Susquehanna Bancshares raised their price target on shares of Facebook from $285.00 to $310.00 and gave the company a “positive” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $273.37.

In other news, CFO David M. Wehner sold 1,795 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $206.81, for a total transaction of $371,223.95. Following the transaction, the chief financial officer now directly owns 32,917 shares in the company, valued at approximately $6,807,564.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the transaction, the executive now owns 57,503 shares in the company, valued at $11,804,790.87. The disclosure for this sale can be found here. Insiders have sold a total of 68,591 shares of company stock worth $14,894,825 over the last three months. Insiders own 14.14% of the company’s stock.

FB opened at $253.67 on Friday. The stock has a market capitalization of $668.11 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.68 and a beta of 1.19. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $255.85. The firm’s fifty day simple moving average is $235.27 and its 200 day simple moving average is $207.59. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The firm had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. On average, equities research analysts predict that Facebook, Inc. will post 7.36 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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