BB&T Corp Has $34.59 Million Stake in Facebook, Inc. (FB)
BB&T Corp boosted its position in Facebook, Inc. (NASDAQ:FB) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 229,090 shares of the social networking company’s stock after buying an additional 3,900 shares during the period. Facebook accounts for approximately 0.7% of BB&T Corp’s investment portfolio, making the stock its 25th largest position. BB&T Corp’s holdings in Facebook were worth $34,588,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Capital Guardian Trust Co. increased its position in Facebook by 18.5% in the fourth quarter. Capital Guardian Trust Co. now owns 7,146 shares of the social networking company’s stock worth $822,000 after buying an additional 1,115 shares during the last quarter. RB Capital Management LLC bought a new position in Facebook during the fourth quarter worth about $1,366,000. Lebenthal Asset Management LLC increased its position in Facebook by 2.7% in the fourth quarter. Lebenthal Asset Management LLC now owns 14,391 shares of the social networking company’s stock worth $1,655,000 after buying an additional 373 shares during the last quarter. Independent Advisor Alliance bought a new position in Facebook during the fourth quarter worth about $6,418,000. Finally, Archford Capital Strategies LLC increased its position in Facebook by 29.5% in the fourth quarter. Archford Capital Strategies LLC now owns 2,418 shares of the social networking company’s stock worth $277,000 after buying an additional 551 shares during the last quarter. Institutional investors own 57.40% of the company’s stock.
Shares of Facebook, Inc. (NASDAQ:FB) traded down 0.5053% during midday trading on Wednesday, hitting $170.1359. 9,181,441 shares of the stock traded hands. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The company has a market cap of $494.11 billion, a price-to-earnings ratio of 38.0788 and a beta of 0.70. The stock has a 50-day moving average of $162.44 and a 200-day moving average of $148.24.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was up 44.8% on a year-over-year basis. On average, equities analysts predict that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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FB has been the subject of a number of analyst reports. UBS AG reaffirmed a “buy” rating and set a $165.00 target price on shares of Facebook in a research note on Wednesday, April 19th. Robert W. Baird reaffirmed an “outperform” rating and set a $163.00 target price on shares of Facebook in a research note on Thursday, May 4th. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $154.73 target price for the company in a research note on Wednesday, May 17th. BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, Mizuho reaffirmed a “buy” rating on shares of Facebook in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and an average target price of $183.47.
In related news, VP David B. Fischer sold 50,533 shares of Facebook stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $169.95, for a total value of $8,588,083.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Desmond-Hellmann sold 209 shares of Facebook stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $144.67, for a total transaction of $30,236.03. The disclosure for this sale can be found here. Insiders sold 9,390,226 shares of company stock valued at $1,490,682,743 in the last quarter. 19.08% of the stock is owned by insiders.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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