Facebook Inc (FB) Shares Bought by Empirical Financial Services LLC
Empirical Financial Services LLC increased its holdings in shares of Facebook Inc (NASDAQ:FB) by 7.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,610 shares of the social networking company’s stock after acquiring an additional 246 shares during the period. Empirical Financial Services LLC’s holdings in Facebook were worth $545,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. State Street Corp lifted its stake in shares of Facebook by 1.7% during 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 acquiring an additional 1,536,158 shares during the last quarter. Jennison Associates LLC raised its position in Facebook by 6.4% during the 2nd quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock valued at $3,070,470,000 after purchasing an additional 1,219,412 shares in the last quarter. Legal & General Group Plc raised its position in Facebook by 6.2% during the 2nd quarter. Legal & General Group Plc now owns 10,382,771 shares of the social networking company’s stock valued at $1,567,582,000 after purchasing an additional 602,162 shares in the last quarter. Swiss National Bank raised its position in Facebook by 3.7% during the 2nd quarter. Swiss National Bank now owns 8,760,000 shares of the social networking company’s stock valued at $1,322,585,000 after purchasing an additional 311,600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Facebook by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock valued at $1,128,745,000 after purchasing an additional 349,182 shares in the last quarter. 57.86% of the stock is owned by hedge funds and other institutional investors.
Facebook Inc (NASDAQ:FB) opened at $176.06 on Thursday. Facebook Inc has a one year low of $114.77 and a one year high of $184.25. The firm has a market capitalization of $509,100.00, a price-to-earnings ratio of 33.04, a P/E/G ratio of 1.09 and a beta of 0.69.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. analysts forecast that Facebook Inc will post 5.86 EPS for the current year.
A number of equities research analysts have weighed in on the company. Wells Fargo & Company reaffirmed a “buy” rating and set a $215.00 target price on shares of Facebook in a research report on Tuesday. Evercore ISI assumed coverage on Facebook in a research report on Tuesday. They set an “outperform” rating and a $225.00 target price for the company. MKM Partners lifted their target price on Facebook to $240.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $197.10 target price for the company in a research report on Wednesday, November 29th. Finally, Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $202.00 target price for the company in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $200.70.
In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $164.21, for a total transaction of $123,157.50. Following the transaction, the vice president now directly owns 92,591 shares in the company, valued at approximately $15,204,368.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 247,147 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $171.96, for a total value of $42,499,398.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,179,022 shares of company stock worth $921,840,196. 17.23% of the stock is owned by company insiders.
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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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