Facebook, Inc. (FB) Stake Raised by Cambridge Trust Co.
Cambridge Trust Co. boosted its position in Facebook, Inc. (NASDAQ:FB) by 6.9% during the first quarter, Holdings Channel reports. The institutional investor owned 161,624 shares of the social networking company’s stock after buying an additional 10,484 shares during the period. Facebook accounts for 1.5% of Cambridge Trust Co.’s investment portfolio, making the stock its 21st largest position. Cambridge Trust Co.’s holdings in Facebook were worth $22,959,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Facebook by 1.7% in the first 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 during the period. Norges Bank bought a new stake in shares of Facebook during the fourth quarter worth about $2,046,500,000. Schwab Charles Investment Management Inc. raised its stake in shares of Facebook by 5.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,126,937 shares of the social networking company’s stock worth $1,012,382,000 after buying an additional 349,947 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Facebook by 1.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,721,199 shares of the social networking company’s stock worth $954,746,000 after buying an additional 71,206 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Facebook by 17.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,100,250 shares of the social networking company’s stock worth $582,441,000 after buying an additional 620,686 shares during the period. 57.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Facebook, Inc. (FB) traded up 0.02% on Tuesday, reaching $170.78. 3,248,821 shares of the company traded hands. The company has a market capitalization of $495.98 billion, a PE ratio of 38.22 and a beta of 0.70. The firm has a 50-day moving average price of $161.95 and a 200 day moving average price of $147.96. Facebook, Inc. has a one year low of $113.55 and a one year high of $175.49.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 EPS. Equities analysts forecast that Facebook, Inc. will post $5.33 EPS for the current fiscal year.
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FB has been the subject of a number of research reports. Wells Fargo & Company reissued an “overweight” rating on shares of Facebook in a research note on Wednesday, April 19th. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Wedbush reissued a “buy” rating on shares of Facebook in a research note on Thursday, July 27th. Stifel Nicolaus restated a “buy” rating and set a $200.00 price target (up previously from $170.00) on shares of Facebook in a report on Thursday, July 27th. Finally, Macquarie set a $175.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $182.00.
In other Facebook news, Director Peter Thiel sold 60,316 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $172.25, for a total transaction of $10,389,431.00. Following the completion of the sale, the director now owns 6,311 shares in the company, valued at approximately $1,087,069.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $148.03, for a total transaction of $2,368,480.00. Following the sale, the insider now owns 221,328 shares of the company’s stock, valued at approximately $32,763,183.84. The disclosure for this sale can be found here. Insiders have sold a total of 9,676,613 shares of company stock valued at $1,533,182,574 in the last 90 days. 19.08% of the stock is currently owned by company 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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