Scotia Capital Inc. lowered its holdings in Facebook, Inc. (NASDAQ:FB) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 250,065 shares of the social networking company’s stock after selling 7,064 shares during the quarter. Scotia Capital Inc.’s holdings in Facebook were worth $48,268,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in FB. Amarillo National Bank boosted its position in Facebook by 1.3% during the fourth quarter. Amarillo National Bank now owns 15,550 shares of the social networking company’s stock worth $2,039,000 after purchasing an additional 194 shares in the last quarter. Naples Global Advisors LLC raised its position in shares of Facebook by 8.7% in the 4th quarter. Naples Global Advisors LLC now owns 9,032 shares of the social networking company’s stock valued at $1,302,000 after purchasing an additional 721 shares in the last quarter. American Assets Investment Management LLC boosted its stake in shares of Facebook by 285.0% during the 4th quarter. American Assets Investment Management LLC now owns 7,700 shares of the social networking company’s stock valued at $1,009,000 after buying an additional 5,700 shares during the last quarter. Essex Savings Bank bought a new stake in shares of Facebook in the 4th quarter worth about $667,000. Finally, Beach Investment Counsel Inc. PA increased its position in shares of Facebook by 120.2% in the 4th quarter. Beach Investment Counsel Inc. PA now owns 64,050 shares of the social networking company’s stock worth $10,677,000 after purchasing an additional 34,957 shares during the last quarter. 63.60% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Mark Zuckerberg sold 237,823 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $182.75, for a total value of $43,462,153.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Susan J.S. Taylor sold 1,134 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total transaction of $210,300.30. Following the completion of the transaction, the chief accounting officer now directly owns 1,037 shares in the company, valued at $192,311.65. The disclosure for this sale can be found here. Insiders sold 1,937,872 shares of company stock worth $358,952,395 over the last quarter. 14.53% of the stock is owned by corporate insiders.
FB traded up $2.26 during midday trading on Wednesday, reaching $188.43. 868,458 shares of the company were exchanged, compared to its average volume of 11,663,489. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.47 and a current ratio of 4.47. The stock has a market capitalization of $538.52 billion, a P/E ratio of 24.90, a PEG ratio of 1.10 and a beta of 1.01. The stock’s 50-day simple moving average is $187.68 and its 200 day simple moving average is $182.67.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. Facebook’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.74 EPS. On average, research analysts anticipate that Facebook, Inc. will post 8.03 earnings per share for the current year.
A number of research firms recently commented on FB. Robert W. Baird lifted their price target on Facebook from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank raised their price target on Facebook from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. ValuEngine lowered Facebook from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets decreased their target price on shares of Facebook to $195.00 and set a “market perform” rating for the company in a research report on Tuesday, July 23rd. Finally, Credit Suisse Group raised their price target on shares of Facebook from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $220.92.
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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