L & S Advisors Inc raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,414 shares of the social networking company’s stock after buying an additional 2,317 shares during the period. Facebook comprises 1.5% of L & S Advisors Inc’s portfolio, making the stock its 9th largest holding. L & S Advisors Inc’s holdings in Facebook were worth $11,081,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in FB. Whitnell & Co. bought a new position in shares of Facebook during the fourth quarter worth $26,000. Cordasco Financial Network boosted its position in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after acquiring an additional 70 shares during the last quarter. Shamrock Asset Management LLC bought a new position in shares of Facebook during the second quarter worth $38,000. Clean Yield Group bought a new position in shares of Facebook during the second quarter worth $39,000. Finally, Litman Gregory Asset Management LLC bought a new position in shares of Facebook during the second quarter worth $41,000. 63.60% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on FB shares. Loop Capital upped their target price on shares of Facebook from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Pivotal Research restated a “buy” rating and set a $225.00 target price (up previously from $220.00) on shares of Facebook in a research report on Thursday, July 25th. UBS Group restated a “buy” rating and set a $240.00 target price on shares of Facebook in a research report on Thursday, July 25th. Canaccord Genuity upped their target price on shares of Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group upped their target price on shares of Facebook from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $220.92.
In related news, CAO Susan J.S. Taylor sold 1,134 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total value of $210,300.30. Following the transaction, the chief accounting officer now owns 1,037 shares of the company’s stock, valued at approximately $192,311.65. 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 firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $189.76, for a total transaction of $10,436,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,244,072 shares of company stock worth $416,434,607. Insiders own 14.53% of the company’s stock.
Shares of FB opened at $187.90 on Friday. Facebook, Inc. has a twelve month low of $123.02 and a twelve month high of $208.66. The company has a market cap of $531.13 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.08 and a beta of 1.01. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $187.42 and its 200-day simple moving average is $182.81.
Facebook (NASDAQ:FB) last announced its earnings results 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. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The business had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. Analysts predict that Facebook, Inc. will post 8.03 earnings per share for the current fiscal year.
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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