D. Scott Neal Inc. Buys 679 Shares of Facebook, Inc. (FB)
D. Scott Neal Inc. increased its stake in Facebook, Inc. (NASDAQ:FB) by 1,358.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 729 shares of the social networking company’s stock after purchasing an additional 679 shares during the period. D. Scott Neal Inc.’s holdings in Facebook were worth $110,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in FB. State Street Corp raised its stake in shares of Facebook by 1.7% in the 1st quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares in the last quarter. HPM Partners LLC bought a new stake in shares of Facebook in the 1st quarter worth $195,602,000. Alecta Pensionsforsakring Omsesidigt raised its stake in shares of Facebook by 131.8% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock worth $279,838,000 after buying an additional 1,120,000 shares in the last quarter. Karp Capital Management Corp raised its stake in shares of Facebook by 6,222.5% in the 1st quarter. Karp Capital Management Corp now owns 896,406 shares of the social networking company’s stock worth $127,334,000 after buying an additional 882,228 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Facebook by 29.0% in the 1st quarter. Russell Investments Group Ltd. now owns 3,643,713 shares of the social networking company’s stock worth $517,583,000 after buying an additional 818,374 shares in the last quarter. 57.26% of the stock is currently owned by institutional investors and hedge funds.
Facebook, Inc. (FB) traded up 0.24% during mid-day trading on Friday, hitting $171.65. 8,949,511 shares of the company’s stock were exchanged. The stock has a market cap of $498.51 billion, a PE ratio of 38.42 and a beta of 0.70. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49. The stock’s 50 day moving average price is $169.79 and its 200-day moving average price is $156.90.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS. Equities analysts expect that Facebook, Inc. will post $5.34 EPS for the current fiscal year.
A number of research firms have recently commented on FB. BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Robert W. Baird reissued an “outperform” rating and issued a $185.00 price objective (up previously from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Mizuho reissued a “buy” rating on shares of Facebook in a research note on Monday, August 7th. MKM Partners reissued a “buy” rating and issued a $200.00 price objective (up previously from $180.00) on shares of Facebook in a research note on Monday, August 7th. Finally, Pivotal Research downgraded Facebook from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $185.38.
In other Facebook news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $173.58, for a total value of $130,185.00. Following the sale, the vice president now owns 94,091 shares of the company’s stock, valued at approximately $16,332,315.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Todd Schroepfer sold 37,914 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $154.43, for a total transaction of $5,855,059.02. Following the completion of the sale, the insider now directly owns 856,491 shares in the company, valued at approximately $132,267,905.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,900,933 shares of company stock worth $2,118,781,506. 19.08% of the stock is owned by insiders.
Facebook Company Profile
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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