Strs Ohio raised its position in Facebook, Inc. (NASDAQ:FB) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,981,739 shares of the social networking company’s stock after acquiring an additional 1,357 shares during the quarter. Facebook makes up 1.3% of Strs Ohio’s investment portfolio, making the stock its 4th largest position. Strs Ohio owned 0.07% of Facebook worth $259,786,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. bought a new stake in shares of Facebook in the 2nd quarter valued at approximately $205,542,000. Rehmann Capital Advisory Group increased its holdings in shares of Facebook by 7.8% in the 2nd quarter. Rehmann Capital Advisory Group now owns 10,261 shares of the social networking company’s stock valued at $1,987,000 after acquiring an additional 743 shares during the last quarter. Old Port Advisors bought a new stake in shares of Facebook in the 2nd quarter valued at approximately $314,000. United Services Automobile Association increased its holdings in shares of Facebook by 2.3% in the 2nd quarter. United Services Automobile Association now owns 3,107,223 shares of the social networking company’s stock valued at $603,796,000 after acquiring an additional 71,205 shares during the last quarter. Finally, Park National Corp OH increased its holdings in shares of Facebook by 622.0% in the 3rd quarter. Park National Corp OH now owns 33,806 shares of the social networking company’s stock valued at $5,559,000 after acquiring an additional 29,124 shares during the last quarter. Hedge funds and other institutional investors own 60.22% of the company’s stock.
A number of brokerages have recently weighed in on FB. Morgan Stanley boosted their price target on Facebook from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. BidaskClub upgraded Facebook from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Zacks Investment Research downgraded Facebook from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Guggenheim upgraded Facebook from a “neutral” rating to a “buy” rating and boosted their price target for the company from $175.00 to $200.00 in a report on Thursday, April 4th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $155.00 price target on shares of Facebook in a report on Thursday, March 14th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $192.11.
In related news, CFO David M. Wehner sold 4,761 shares of the company’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $165.59, for a total transaction of $788,373.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $144.93, for a total value of $7,971,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,430,685 shares of company stock valued at $248,586,373. 16.25% of the stock is currently owned by company insiders.
Shares of FB stock opened at $179.65 on Tuesday. The firm has a market cap of $520.29 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $218.62.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, January 30th. The social networking company reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.20. The business had revenue of $16.91 billion during the quarter, compared to analyst estimates of $16.40 billion. Facebook had a return on equity of 27.51% and a net margin of 39.60%. The company’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Sell-side analysts expect that Facebook, Inc. will post 7.54 earnings per share for the current fiscal year.
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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