Facebook Inc. (FB) Stake Increased by Strs Ohio
Strs Ohio raised its stake in Facebook Inc. (NASDAQ:FB) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,367,459 shares of the social networking company’s stock after buying an additional 86,207 shares during the period. Facebook makes up 1.2% of Strs Ohio’s investment portfolio, making the stock its 5th largest position. Strs Ohio owned approximately 0.08% of Facebook worth $270,553,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Smith Asset Management Group LP increased its position in Facebook by 260.7% in the second quarter. Smith Asset Management Group LP now owns 999,068 shares of the social networking company’s stock valued at $114,173,000 after buying an additional 722,125 shares during the period. HL Financial Services LLC raised its stake in shares of Facebook by 5.3% in the second quarter. HL Financial Services LLC now owns 49,656 shares of the social networking company’s stock valued at $5,675,000 after buying an additional 2,483 shares in the last quarter. Grimes & Company Inc. purchased a new stake in shares of Facebook during the second quarter valued at approximately $312,000. Seven Bridges Advisors LLC raised its stake in shares of Facebook by 153.3% in the second quarter. Seven Bridges Advisors LLC now owns 21,856 shares of the social networking company’s stock valued at $2,498,000 after buying an additional 13,228 shares in the last quarter. Finally, Mount Vernon Associates Inc. MD raised its stake in shares of Facebook by 2.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 8,805 shares of the social networking company’s stock valued at $1,006,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 56.61% of the company’s stock.
Shares of Facebook Inc. (NASDAQ:FB) traded up 0.39% on Monday, reaching $128.77. The company’s stock had a trading volume of 13,156,943 shares. The company has a market cap of $369.78 billion, a P/E ratio of 61.55 and a beta of 0.77. Facebook Inc. has a 52-week low of $89.37 and a 52-week high of $131.98. The company has a 50 day moving average price of $127.03 and a 200 day moving average price of $119.33.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The firm had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter last year, the business posted $0.50 EPS. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. On average, analysts anticipate that Facebook Inc. will post $3.94 earnings per share for the current fiscal year.
Several equities research analysts have commented on the company. Cowen and Company restated a “buy” rating and set a $145.00 price target on shares of Facebook in a research note on Sunday, July 17th. MKM Partners restated a “buy” rating on shares of Facebook in a research note on Sunday, July 24th. Deutsche Bank AG restated a “buy” rating on shares of Facebook in a research note on Sunday, July 10th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $127.69 price target for the company in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $170.00 price target on Facebook and gave the stock a “buy” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, forty-four have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $149.79.
In related news, Director Susan Desmond-Hellmann sold 625 shares of Facebook stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $124.01, for a total transaction of $77,506.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 15,600 shares of Facebook stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $117.71, for a total value of $1,836,276.00. Following the transaction, the insider now owns 365,986 shares of the company’s stock, valued at approximately $43,080,212.06. The disclosure for this sale can be found here. 19.08% of the stock is owned by company insiders.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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