Ridgewood Investments LLC bought a new stake in Facebook, Inc. (NASDAQ:FB) in the 4th quarter, Holdings Channel.com reports. The fund bought 985 shares of the social networking company’s stock, valued at approximately $202,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FB. KCS Wealth Advisory grew its stake in shares of Facebook by 0.6% during the fourth quarter. KCS Wealth Advisory now owns 7,384 shares of the social networking company’s stock worth $1,516,000 after purchasing an additional 46 shares during the period. Foresight Wealth Management LLC grew its stake in shares of Facebook by 1.9% during the fourth quarter. Foresight Wealth Management LLC now owns 4,204 shares of the social networking company’s stock worth $863,000 after purchasing an additional 78 shares during the period. Relyea Zuckerberg Hanson LLC acquired a new stake in shares of Facebook during the fourth quarter worth $243,000. Archford Capital Strategies LLC grew its stake in shares of Facebook by 1.4% during the fourth quarter. Archford Capital Strategies LLC now owns 4,481 shares of the social networking company’s stock worth $920,000 after purchasing an additional 63 shares during the period. Finally, Fulton Breakefield Broenniman LLC grew its stake in shares of Facebook by 0.5% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 42,464 shares of the social networking company’s stock worth $8,716,000 after purchasing an additional 220 shares during the period. 63.77% of the stock is owned by institutional investors.
In related news, CRO David B. Fischer sold 5,562 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $196.60, for a total transaction of $1,093,489.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jennifer Newstead sold 260 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $212.85, for a total value of $55,341.00. Following the sale, the vice president now owns 1,306 shares in the company, valued at approximately $277,982.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,228,140 shares of company stock worth $233,184,417. Corporate insiders own 14.53% of the company’s stock.
FB has been the subject of a number of analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $270.00 price objective (up from $260.00) on shares of Facebook in a research note on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Facebook in a research note on Thursday, January 9th. They set an “outperform” rating and a $250.00 price objective for the company. Deutsche Bank lifted their price objective on Facebook from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush decreased their price objective on Facebook from $265.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and a consensus target price of $238.04.
Shares of Facebook stock opened at $221.15 on Thursday. The firm has a market cap of $624.70 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 1.17 and a beta of 1.05. The stock’s 50-day moving average is $205.75 and its 200-day moving average is $193.71. Facebook, Inc. has a one year low of $142.52 and a one year high of $222.38. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.66 and a quick ratio of 4.66.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.21. The company had revenue of $17.65 billion for the quarter, compared to analyst estimates of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. On average, equities analysts expect that Facebook, Inc. will post 8.48 EPS for the current 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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