Facebook, Inc. (FB) Stake Increased by Waldron Private Wealth LLC
Waldron Private Wealth LLC grew its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,954 shares of the social networking company’s stock after acquiring an additional 610 shares during the period. Facebook comprises about 0.6% of Waldron Private Wealth LLC’s investment portfolio, making the stock its 21st biggest holding. Waldron Private Wealth LLC’s holdings in Facebook were worth $3,281,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in FB. Fundsmith Equity Fund L.P. acquired a new stake in shares of Facebook during the second quarter valued at about $1,072,219,000. FMR LLC grew its stake in shares of Facebook by 1.7% during the third quarter. FMR LLC now owns 124,255,610 shares of the social networking company’s stock valued at $20,435,077,000 after acquiring an additional 2,132,804 shares in the last quarter. Magellan Asset Management Ltd grew its stake in shares of Facebook by 13.8% during the third quarter. Magellan Asset Management Ltd now owns 15,168,591 shares of the social networking company’s stock valued at $2,494,626,000 after acquiring an additional 1,835,941 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Facebook by 16,836.7% during the third quarter. Rehmann Capital Advisory Group now owns 1,737,877 shares of the social networking company’s stock valued at $432,530,000 after acquiring an additional 1,727,616 shares in the last quarter. Finally, Sanders Capital LLC acquired a new stake in shares of Facebook during the third quarter valued at about $278,939,000. Institutional investors own 59.63% of the company’s stock.
In other news, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $141.66, for a total transaction of $7,791,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Susan J.S. Taylor sold 1,442 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $162.02, for a total transaction of $233,632.84. Following the transaction, the chief accounting officer now owns 1,569 shares in the company, valued at approximately $254,209.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 391,461 shares of company stock worth $60,325,530. Corporate insiders own 16.25% of the company’s stock.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.20. The company had revenue of $16.91 billion for the quarter, compared to analysts’ expectations of $16.40 billion. Facebook had a return on equity of 27.51% and a net margin of 39.60%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, equities analysts expect that Facebook, Inc. will post 7.55 EPS for the current fiscal year.
Several brokerages have recently weighed in on FB. Stifel Nicolaus restated a “hold” rating and set a $155.00 target price on shares of Facebook in a research note on Thursday. Zacks Investment Research cut shares of Facebook from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Nomura raised shares of Facebook from a “neutral” rating to a “buy” rating and increased their price target for the stock from $172.00 to $215.00 in a research report on Monday, March 11th. BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Wedbush reduced their price target on shares of Facebook to $200.00 and set a “buy” rating on the stock in a research report on Monday, February 4th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and forty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $191.58.
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Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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