Facebook, Inc. (FB) Shares Bought by Old Mutual Global Investors UK Ltd.
Old Mutual Global Investors UK Ltd. raised its stake in Facebook, Inc. (NASDAQ:FB) by 165.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 606,238 shares of the social networking company’s stock after buying an additional 377,547 shares during the period. Facebook accounts for 1.2% of Old Mutual Global Investors UK Ltd.’s portfolio, making the stock its 29th largest position. Old Mutual Global Investors UK Ltd.’s holdings in Facebook were worth $86,116,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hemenway Trust Co LLC bought a new stake in Facebook during the fourth quarter valued at $109,000. Cohen Capital Management Inc. acquired a new stake in shares of Facebook during the first quarter worth approximately $121,000. Cable Hill Partners LLC boosted its stake in shares of Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 79 shares during the period. Empirical Finance LLC acquired a new stake in shares of Facebook during the fourth quarter worth approximately $132,000. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Facebook during the fourth quarter worth approximately $140,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Facebook, Inc. (FB) traded up 1.39% during mid-day trading on Monday, hitting $171.98. The stock had a trading volume of 12,766,126 shares. The company has a market cap of $499.46 billion, a PE ratio of 38.49 and a beta of 0.70. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The stock has a 50 day moving average price of $157.40 and a 200-day moving average price of $145.43.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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A number of equities analysts recently issued reports on the stock. Barclays PLC set a $200.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Friday, July 28th. FBN Securities reiterated an “outperform” rating and issued a $210.00 price target (up previously from $175.00) on shares of Facebook in a research note on Sunday, July 30th. Morgan Stanley set a $190.00 target price on Facebook and gave the stock a “buy” rating in a research report on Monday, July 31st. Atlantic Securities set a $200.00 target price on Facebook and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating and decreased their target price for the stock from $172.45 to $140.00 in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and an average price target of $180.91.
In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $151.49, for a total value of $113,617.50. Following the completion of the transaction, the vice president now directly owns 79,080 shares in the company, valued at $11,979,829.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan Desmond-Hellmann sold 209 shares of Facebook stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total value of $30,236.03. The disclosure for this sale can be found here. Insiders sold 10,205,032 shares of company stock worth $1,610,153,882 in the last quarter. 19.08% of the stock is owned by insiders.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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