Aviance Capital Management LLC Invests $151,000 in Facebook, Inc. (FB)
Aviance Capital Management LLC acquired a new position in shares of Facebook, Inc. (NASDAQ:FB) during the second quarter, HoldingsChannel.com reports. The firm acquired 776 shares of the social networking company’s stock, valued at approximately $151,000.
Other hedge funds have also modified their holdings of the company. Cribstone Capital Management LLC increased its stake in Facebook by 186.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after buying an additional 406 shares during the last quarter. IMA Wealth Inc. acquired a new stake in Facebook in the 2nd quarter valued at $122,000. Trust Department MB Financial Bank N A acquired a new stake in Facebook in the 2nd quarter valued at $134,000. Northwest Wealth Management LLC acquired a new stake in Facebook in the 2nd quarter valued at $194,000. Finally, AJ Wealth Strategies LLC acquired a new position in shares of Facebook during the 2nd quarter worth about $216,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.
In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $166.07, for a total value of $9,133,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Susan J.S. Taylor sold 2,268 shares of the business’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $135.81, for a total transaction of $308,017.08. Following the completion of the sale, the insider now directly owns 2,112 shares of the company’s stock, valued at approximately $286,830.72. The disclosure for this sale can be found here. Insiders sold a total of 518,103 shares of company stock valued at $79,159,534 in the last three months. Insiders own 17.23% of the company’s stock.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.59 EPS. On average, equities research analysts expect that Facebook, Inc. will post 7.36 earnings per share for the current fiscal year.
FB has been the topic of several recent analyst reports. Wells Fargo & Co set a $220.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research note on Monday, October 29th. Cleveland Research restated a “buy” rating on shares of Facebook in a research note on Thursday, September 13th. UBS Group lowered their price objective on shares of Facebook from $180.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st. Credit Suisse Group lowered their price objective on shares of Facebook from $225.00 to $210.00 and set an “outperform” rating on the stock in a research note on Monday, October 8th. Finally, ValuEngine lowered shares of Facebook from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $191.80.
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Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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