Menard Financial Group LLC boosted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,510 shares of the social networking company’s stock after acquiring an additional 683 shares during the quarter. Facebook comprises 2.8% of Menard Financial Group LLC’s holdings, making the stock its 6th largest holding. Menard Financial Group LLC’s holdings in Facebook were worth $2,959,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of FB. Berman Capital Advisors LLC grew its stake in shares of Facebook by 24.9% in the second quarter. Berman Capital Advisors LLC now owns 10,096 shares of the social networking company’s stock valued at $3,509,000 after buying an additional 2,011 shares in the last quarter. Triple Frond Partners LLC grew its stake in shares of Facebook by 21.1% in the second quarter. Triple Frond Partners LLC now owns 181,100 shares of the social networking company’s stock valued at $62,970,000 after buying an additional 31,600 shares in the last quarter. Saturna Capital CORP acquired a new stake in shares of Facebook in the second quarter valued at $1,411,000. Sofos Investments Inc. grew its stake in shares of Facebook by 7.6% in the second quarter. Sofos Investments Inc. now owns 3,946 shares of the social networking company’s stock valued at $1,715,000 after buying an additional 278 shares in the last quarter. Finally, Alerus Financial NA grew its stake in shares of Facebook by 0.3% in the second quarter. Alerus Financial NA now owns 39,489 shares of the social networking company’s stock valued at $13,730,000 after buying an additional 121 shares in the last quarter. 65.72% of the stock is owned by institutional investors.
In other news, CEO Mark Zuckerberg sold 77,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $382.34, for a total transaction of $29,554,882.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jennifer Newstead sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $356.49, for a total value of $89,122.50. Following the sale, the vice president now directly owns 8,390 shares in the company, valued at approximately $2,990,951.10. The disclosure for this sale can be found here. Insiders have sold a total of 2,506,590 shares of company stock worth $904,182,389 in the last quarter. 14.01% of the stock is currently owned by insiders.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.58. Facebook had a return on equity of 30.09% and a net margin of 37.17%. The company had revenue of $29.08 billion for the quarter, compared to analysts’ expectations of $27.93 billion. As a group, equities analysts expect that Facebook, Inc. will post 14.1 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Facebook from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. KGI Securities started coverage on Facebook in a report on Wednesday, June 2nd. They issued an “outperform” rating and a $420.00 target price for the company. Oppenheimer lifted their target price on Facebook from $375.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. KeyCorp lifted their target price on Facebook from $414.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Finally, JPMorgan Chase & Co. set a $450.00 target price on Facebook in a report on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Facebook has an average rating of “Buy” and an average price target of $404.35.
Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.
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