Sandy Spring Bank grew its stake in Facebook, Inc. (NASDAQ:FB) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,507 shares of the social networking company’s stock after acquiring an additional 1,002 shares during the quarter. Sandy Spring Bank’s holdings in Facebook were worth $5,737,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Country Trust Bank increased its stake in Facebook by 550.6% in the fourth quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after purchasing an additional 479 shares during the last quarter. Armbruster Capital Management Inc. increased its stake in Facebook by 358.4% in the fourth quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock valued at $101,000 after purchasing an additional 448 shares during the last quarter. Price Wealth Management Inc. acquired a new position in Facebook in the fourth quarter valued at $105,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Facebook in the third quarter valued at $111,000. Finally, Goodman Financial Corp acquired a new stake in Facebook during the fourth quarter worth about $115,000. Institutional investors and hedge funds own 58.47% of the company’s stock.
Several brokerages have commented on FB. Credit Suisse Group dropped their price target on Facebook from $240.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday. Goldman Sachs set a $205.00 price target on Facebook and gave the stock a “buy” rating in a research note on Wednesday. OTR Global lowered Facebook to a “positive” rating in a research note on Wednesday. Wedbush set a $260.00 price target on Facebook and gave the stock a “buy” rating in a research note on Monday, April 16th. Finally, BMO Capital Markets restated a “hold” rating and set a $170.00 price target (down from $175.00) on shares of Facebook in a research note on Monday, April 16th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $209.18.
In related news, VP David B. Fischer sold 5,587 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $187.66, for a total value of $1,048,456.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 220,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $184.63, for a total value of $40,618,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,737,678 shares of company stock worth $1,346,825,803. 17.23% of the stock is currently owned by company insiders.
NASDAQ:FB opened at $166.28 on Friday. Facebook, Inc. has a 52 week low of $142.27 and a 52 week high of $195.32. The company has a market cap of $483,275.81, a price-to-earnings ratio of 26.99, a PEG ratio of 0.91 and a beta of 0.79.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. Facebook had a return on equity of 26.49% and a net margin of 39.16%. The company had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $12.58 billion. sell-side analysts expect that Facebook, Inc. will post 7.11 earnings per share for the current 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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