Towercrest Capital Management Holds Position in Facebook, Inc. (FB)
Towercrest Capital Management continued to hold its stake in shares of Facebook, Inc. (NASDAQ:FB) during the first quarter, Holdings Channel reports. The institutional investor owned 4,465 shares of the social networking company’s stock at the end of the first quarter. Facebook accounts for approximately 0.5% of Towercrest Capital Management’s portfolio, making the stock its 22nd largest position. Towercrest Capital Management’s holdings in Facebook were worth $634,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in FB. Arcadia Investment Management Corp MI raised its stake in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares during the last quarter. Cohen Capital Management Inc. acquired a new stake in Facebook during the first quarter worth $121,000. Cable Hill Partners LLC raised its stake in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 79 shares during the last quarter. Viking Fund Management LLC acquired a new stake in Facebook during the first quarter worth $142,000. Finally, State of Alaska Department of Revenue acquired a new stake in Facebook during the first quarter worth $180,000. 57.40% of the stock is currently owned by institutional investors.
Facebook, Inc. (NASDAQ:FB) traded down 0.58% during mid-day trading on Wednesday, reaching $170.00. 6,268,454 shares of the company traded hands. The firm has a market capitalization of $493.71 billion, a P/E ratio of 38.05 and a beta of 0.70. The company’s 50 day moving average price is $162.44 and its 200 day moving average price is $148.24. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. Facebook’s quarterly revenue was up 44.8% compared to the same quarter last year. Equities research analysts predict that Facebook, Inc. will post $5.33 EPS for the current year.
FB has been the topic of a number of recent analyst reports. UBS AG restated a “buy” rating and issued a $165.00 price target on shares of Facebook in a research report on Wednesday, April 19th. Robert W. Baird restated an “outperform” rating and issued a $163.00 price target on shares of Facebook in a research report on Thursday, May 4th. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $154.73 price target on the stock in a research report on Wednesday, May 17th. BidaskClub upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Finally, Mizuho restated a “buy” rating on shares of Facebook in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company. Facebook presently has a consensus rating of “Buy” and a consensus target price of $183.47.
In other Facebook news, Director Susan Desmond-Hellmann sold 209 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $144.67, for a total value of $30,236.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 279,533 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $152.04, for a total value of $42,500,197.32. The disclosure for this sale can be found here. Insiders have sold a total of 9,390,226 shares of company stock worth $1,490,682,743 in the last 90 days. 19.08% of the stock is currently owned by 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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