Facebook, Inc. (FB) Position Decreased by Dowling & Yahnke LLC
Dowling & Yahnke LLC reduced its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,570 shares of the social networking company’s stock after selling 360 shares during the period. Dowling & Yahnke LLC’s holdings in Facebook were worth $6,427,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI raised its position in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares during the period. D. Scott Neal Inc. raised its position in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after acquiring an additional 679 shares during the period. Farmers & Merchants Investments Inc. raised its position in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after acquiring an additional 34 shares during the period. Pacific Center for Financial Services raised its position in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after acquiring an additional 88 shares during the period. Finally, Watermark Asset Management Inc. bought a new stake in Facebook in the first quarter worth about $141,000. 57.27% of the stock is currently owned by institutional investors.
In related news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $171.88, for a total transaction of $128,910.00. Following the completion of the sale, the vice president now directly owns 82,406 shares in the company, valued at approximately $14,163,943.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Todd Schroepfer sold 37,963 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $171.98, for a total transaction of $6,528,876.74. Following the sale, the insider now owns 882,427 shares of the company’s stock, valued at $151,759,795.46. The disclosure for this sale can be found here. Insiders sold a total of 8,306,683 shares of company stock valued at $1,441,300,245 in the last ninety days. 19.08% of the stock is owned by corporate insiders.
Several analysts have commented on FB shares. Credit Suisse Group reaffirmed an “outperform” rating and issued a $180.00 price objective (up previously from $175.00) on shares of Facebook in a research report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Facebook in a research report on Tuesday, July 11th. Barclays PLC reaffirmed an “overweight” rating and issued a $168.00 price objective (up previously from $160.00) on shares of Facebook in a research report on Wednesday, July 12th. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $161.83 price objective on the stock. in a research report on Wednesday, July 12th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Facebook in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, forty-four have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $196.80.
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Shares of Facebook, Inc. (FB) opened at $178.92 on Friday. The company has a market cap of $519.62 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The firm’s revenue was up 47.3% on a year-over-year basis. analysts anticipate that Facebook, Inc. will post 5.45 EPS for the current year.
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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