AlphaStar Capital Management LLC cut its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,518 shares of the social networking company’s stock after selling 59 shares during the period. AlphaStar Capital Management LLC’s holdings in Facebook were worth $742,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC raised its stake in Facebook by 10.3% in the 4th quarter. Halbert Hargrove Global Advisors LLC now owns 6,388 shares of the social networking company’s stock valued at $1,745,000 after acquiring an additional 595 shares during the period. Youngs Advisory Group Inc. grew its holdings in Facebook by 8.3% during the 4th quarter. Youngs Advisory Group Inc. now owns 1,123 shares of the social networking company’s stock valued at $307,000 after buying an additional 86 shares in the last quarter. Proem Advisors LLC purchased a new position in Facebook during the 4th quarter valued at about $9,287,000. Signaturefd LLC grew its holdings in Facebook by 10.7% during the 1st quarter. Signaturefd LLC now owns 34,379 shares of the social networking company’s stock valued at $10,126,000 after buying an additional 3,322 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in Facebook by 22.8% during the 1st quarter. Venture Visionary Partners LLC now owns 28,951 shares of the social networking company’s stock valued at $8,526,000 after buying an additional 5,375 shares in the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.
FB has been the subject of several recent analyst reports. Susquehanna Bancshares boosted their price objective on Facebook from $375.00 to $425.00 and gave the stock a “positive” rating in a report on Thursday, April 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on Facebook from $385.00 to $425.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Wedbush upped their target price on Facebook from $340.00 to $355.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 5th. JMP Securities upped their target price on Facebook from $355.00 to $395.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $355.00 target price on shares of Facebook in a research note on Thursday, January 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $366.87.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, April 28th. The social networking company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.94. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The firm had revenue of $26.20 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the prior year, the business earned $1.71 earnings per share. The company’s revenue was up 47.7% compared to the same quarter last year. Analysts expect that Facebook, Inc. will post 9.39 EPS for the current fiscal year.
In other news, CFO David M. Wehner sold 1,356 shares of the firm’s stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $270.38, for a total transaction of $366,635.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 68,000 shares of the stock in a transaction on Friday, May 7th. The shares were sold at an average price of $320.59, for a total value of $21,800,120.00. The disclosure for this sale can be found here. Insiders sold a total of 1,764,422 shares of company stock valued at $518,500,961 in the last ninety days. 14.14% of the stock is currently owned by insiders.
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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