Mendel Money Management acquired a new stake in Facebook, Inc. (NASDAQ:FB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,404 shares of the social networking company’s stock, valued at approximately $1,681,000. Facebook makes up approximately 1.5% of Mendel Money Management’s portfolio, making the stock its 24th biggest position.
A number of other large investors have also recently modified their holdings of the business. Macquarie Group Ltd. grew its position in shares of Facebook by 13.4% during the fourth quarter. Macquarie Group Ltd. now owns 736,299 shares of the social networking company’s stock worth $151,125,000 after buying an additional 87,024 shares in the last quarter. IMS Capital Management grew its position in shares of Facebook by 7.4% during the first quarter. IMS Capital Management now owns 3,102 shares of the social networking company’s stock worth $517,000 after buying an additional 215 shares in the last quarter. Fulton Bank N.A. grew its position in shares of Facebook by 0.3% during the first quarter. Fulton Bank N.A. now owns 63,945 shares of the social networking company’s stock worth $10,666,000 after buying an additional 221 shares in the last quarter. Blackhawk Capital Partners LLC. grew its position in shares of Facebook by 5.2% during the first quarter. Blackhawk Capital Partners LLC. now owns 12,136 shares of the social networking company’s stock worth $2,491,000 after buying an additional 603 shares in the last quarter. Finally, Nexus Investment Management Inc. grew its position in shares of Facebook by 0.9% during the first quarter. Nexus Investment Management Inc. now owns 108,880 shares of the social networking company’s stock worth $18,161,000 after buying an additional 940 shares in the last quarter. 65.12% of the stock is owned by institutional investors.
FB has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on shares of Facebook from $220.00 to $225.00 and gave the stock a “market perform” rating in a report on Friday. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a report on Friday, June 12th. Credit Suisse Group raised their target price on Facebook from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday. MKM Partners raised their target price on Facebook from $240.00 to $290.00 in a research note on Wednesday, July 15th. Finally, Guggenheim raised their target price on Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. One investment 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 company has an average rating of “Buy” and an average target price of $273.37.
Shares of FB opened at $253.67 on Friday. The business’s 50-day moving average price is $235.27 and its 200 day moving average price is $207.59. 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 1-year low of $137.10 and a 1-year high of $255.85. 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 released its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The company had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. On average, research analysts predict that Facebook, Inc. will post 7.36 earnings per share for the current year.
In other news, CAO Susan J.S. Taylor sold 1,195 shares of Facebook stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total transaction of $266,951.05. Following the completion of the sale, the chief accounting officer now directly owns 3,147 shares in the company, valued at approximately $703,008.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total value of $47,766.68. Following the sale, the vice president now owns 2,112 shares of the company’s stock, valued at $520,016.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,591 shares of company stock worth $14,894,825. Company insiders own 14.14% of the company’s stock.
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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