Goelzer Investment Management Inc. Decreases Stake in Facebook Inc (FB)
Goelzer Investment Management Inc. decreased its position in Facebook Inc (NASDAQ:FB) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,578 shares of the social networking company’s stock after selling 303 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Facebook were worth $2,491,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Facebook by 283.6% in the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock valued at $1,794,857,000 after buying an additional 8,788,743 shares during the period. Vanguard Group Inc. boosted its stake in shares of Facebook by 3.3% in the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after buying an additional 5,151,190 shares during the period. BlackRock Inc. boosted its stake in shares of Facebook by 3.0% in the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after buying an additional 4,032,727 shares during the period. Harbour Capital Advisors LLC boosted its stake in shares of Facebook by 15,047.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock valued at $16,828,000 after buying an additional 2,523,918 shares during the period. Finally, Magellan Asset Management Ltd boosted its stake in shares of Facebook by 28.4% in the second quarter. Magellan Asset Management Ltd now owns 10,686,955 shares of the social networking company’s stock valued at $1,613,516,000 after buying an additional 2,361,166 shares during the period. 57.73% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the company. Pivotal Research reiterated a “sell” rating and issued a $147.00 price target on shares of Facebook in a research note on Monday. Wells Fargo & Co reiterated an “outperform” rating and issued a $230.00 price target (up from $215.00) on shares of Facebook in a research note on Monday. JPMorgan Chase & Co. set a $230.00 price target on Facebook and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group boosted their price target on Facebook from $230.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Cowen reiterated a “buy” rating and issued a $220.00 price target on shares of Facebook in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating, forty-four have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $202.56.
In related news, CEO Mark Zuckerberg sold 123,485 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $172.08, for a total value of $21,249,298.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $175.20, for a total value of $2,803,200.00. Following the completion of the sale, the insider now owns 172,871 shares of the company’s stock, valued at $30,286,999.20. The disclosure for this sale can be found here. Insiders have sold 4,513,904 shares of company stock valued at $809,333,502 over the last quarter. Company insiders own 17.23% of the company’s stock.
Facebook Inc (NASDAQ FB) opened at $188.28 on Tuesday. The stock has a market cap of $547,110.00, a price-to-earnings ratio of 35.00, a PEG ratio of 1.06 and a beta of 0.68. Facebook Inc has a 1-year low of $123.04 and a 1-year high of $188.90.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. equities research analysts expect that Facebook Inc will post 5.86 EPS for the current fiscal year.
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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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