Facebook, Inc. (NASDAQ:FB) Shares Acquired by Royal London Asset Management Ltd.
Royal London Asset Management Ltd. grew its stake in Facebook, Inc. (NASDAQ:FB) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,161,368 shares of the social networking company’s stock after acquiring an additional 3,953 shares during the quarter. Facebook comprises approximately 2.1% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 4th biggest position. Royal London Asset Management Ltd.’s holdings in Facebook were worth $224,132,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Whitnell & Co. acquired a new stake in shares of Facebook during the 4th quarter worth about $26,000. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Facebook during the 4th quarter worth about $31,000. Cordasco Financial Network increased its position in shares of Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after purchasing an additional 70 shares during the last quarter. Signet Investment Advisory Group Inc. acquired a new stake in shares of Facebook during the 4th quarter worth about $39,000. Finally, Clean Yield Group acquired a new stake in shares of Facebook during the 2nd quarter worth about $39,000. 62.11% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on FB shares. MKM Partners reissued a “buy” rating and set a $245.00 price objective (up from $190.00) on shares of Facebook in a research report on Friday, August 2nd. Susquehanna Bancshares raised their price objective on Facebook from $225.00 to $245.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Mizuho raised their price objective on Facebook from $230.00 to $247.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley raised their price objective on Facebook from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $175.00 price objective (up from $155.00) on shares of Facebook in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and forty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $220.92.
Shares of FB traded down $5.30 during midday trading on Wednesday, hitting $183.15. The company had a trading volume of 3,875,888 shares, compared to its average volume of 18,096,547. The company has a 50-day moving average price of $195.35. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $535.93 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.10 and a beta of 0.99. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $208.66.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 EPS. On average, analysts anticipate that Facebook, Inc. will post 7.96 EPS for the current year.
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.
Recommended Story: Earnings Per Share
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.