Wealth Enhancement Advisory Services LLC Acquires Shares of 17,661 Facebook, Inc. (FB)
Wealth Enhancement Advisory Services LLC acquired a new position in shares of Facebook, Inc. (NASDAQ:FB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,661 shares of the social networking company’s stock, valued at approximately $2,714,000.
Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its position in Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after acquiring an additional 1,536,158 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Facebook by 5.2% during 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 acquiring an additional 349,947 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Facebook by 1.1% during 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 acquiring an additional 71,206 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Facebook by 17.8% during 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 acquiring an additional 620,686 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Facebook by 1.5% during the first quarter. Rhumbline Advisers now owns 3,741,605 shares of the social networking company’s stock worth $531,495,000 after acquiring an additional 54,953 shares in the last quarter. 57.26% of the stock is owned by institutional investors.
In other Facebook news, Director Peter Thiel sold 60,316 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $172.25, for a total value of $10,389,431.00. Following the transaction, the director now directly owns 6,311 shares in the company, valued at approximately $1,087,069.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Koum sold 3,600,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total value of $576,216,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,667,406 shares of company stock worth $2,078,665,122. 19.08% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on the stock. Cowen and Company reaffirmed an “average” rating and set a $200.00 price objective (up previously from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Royal Bank Of Canada reissued a “buy” rating and issued a $185.00 target price on shares of Facebook in a report on Tuesday, July 11th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $159.91 target price on the stock in a report on Tuesday, June 6th. Cantor Fitzgerald set a $180.00 price target on Facebook and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Canaccord Genuity restated a “buy” rating and set a $175.00 price target on shares of Facebook in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have issued a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $184.95.
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Facebook, Inc. (FB) opened at 170.87 on Monday. The firm has a market capitalization of $496.24 billion, a PE ratio of 38.24 and a beta of 0.70. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49. The stock has a 50 day moving average of $170.12 and a 200 day moving average of $154.54.
Facebook (NASDAQ:FB) last announced 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. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 earnings per share. On average, equities analysts predict that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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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