Miracle Mile Advisors LLC lifted its holdings in Facebook, Inc. (NASDAQ:FB) by 22.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,914 shares of the social networking company’s stock after purchasing an additional 13,358 shares during the quarter. Facebook accounts for approximately 1.1% of Miracle Mile Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Miracle Mile Advisors LLC’s holdings in Facebook were worth $12,156,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Aviance Capital Management LLC acquired a new position in Facebook during the second quarter worth $151,000. Arlington Partners LLC acquired a new position in Facebook during the third quarter worth $164,000. Lenox Wealth Management Inc. increased its holdings in Facebook by 65.5% during the third quarter. Lenox Wealth Management Inc. now owns 1,023 shares of the social networking company’s stock worth $168,000 after buying an additional 405 shares during the last quarter. Wagner Wealth Management LLC increased its holdings in Facebook by 100.0% during the third quarter. Wagner Wealth Management LLC now owns 1,056 shares of the social networking company’s stock worth $174,000 after buying an additional 528 shares during the last quarter. Finally, Marino Stram & Associates LLC increased its holdings in Facebook by 115.3% during the second quarter. Marino Stram & Associates LLC now owns 945 shares of the social networking company’s stock worth $184,000 after buying an additional 506 shares during the last quarter. 57.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Susan J.S. Taylor sold 2,112 shares of the company’s stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $139.60, for a total transaction of $294,835.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $132.11, for a total transaction of $7,266,050.00. The disclosure for this sale can be found here. In the last three months, insiders sold 386,773 shares of company stock valued at $57,667,670. 16.25% of the stock is currently owned by company insiders.
Shares of Facebook stock opened at $172.51 on Thursday. The stock has a market capitalization of $470.29 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. Facebook, Inc. has a 52-week low of $123.02 and a 52-week high of $218.62.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, January 30th. The social networking company reported $2.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.20. The company had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.40 billion. Facebook had a net margin of 39.60% and a return on equity of 27.51%. Facebook’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. On average, sell-side analysts forecast that Facebook, Inc. will post 7.55 EPS for the current year.
A number of equities analysts recently weighed in on FB shares. Zacks Investment Research upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a report on Wednesday, January 2nd. Goldman Sachs Group restated a “buy” rating and set a $195.00 target price on shares of Facebook in a report on Wednesday, January 16th. Citigroup reiterated a “buy” rating and issued a $185.00 price objective (up from $175.00) on shares of Facebook in a report on Thursday, January 31st. Wedbush decreased their price objective on shares of Facebook to $200.00 and set a “buy” rating on the stock in a report on Monday, February 4th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $195.00 price objective on shares of Facebook in a report on Tuesday, January 8th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty-nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $190.62.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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