Facebook, Inc. (FB) Shares Bought by Bridges Investment Counsel Inc.
Bridges Investment Counsel Inc. raised its position in Facebook, Inc. (NASDAQ:FB) by 97.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,815 shares of the social networking company’s stock after buying an additional 8,310 shares during the period. Bridges Investment Counsel Inc.’s holdings in Facebook were worth $2,539,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Arcadia Investment Management Corp MI raised its stake in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares during the last quarter. D. Scott Neal Inc. raised its stake in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after buying an additional 34 shares during the last quarter. Cohen Capital Management Inc. acquired a new stake in Facebook during the first quarter worth approximately $121,000. Finally, Cable Hill Partners LLC raised its stake in 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 last quarter. 57.30% of the stock is owned by institutional investors and hedge funds.
Shares of Facebook, Inc. (FB) traded up 1.1012% during trading on Thursday, hitting $171.7912. The stock had a trading volume of 9,095,708 shares. The stock’s 50 day moving average price is $166.02 and its 200-day moving average price is $150.10. Facebook, Inc. has a one year low of $113.55 and a one year high of $175.49. The stock has a market cap of $498.92 billion, a P/E ratio of 38.4492 and a beta of 0.70.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. Analysts expect that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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FB has been the topic of a number of research reports. UBS AG set a $168.00 price target on Facebook and gave the stock a “buy” rating in a research note on Thursday, May 4th. Cowen and Company restated an “outperform” rating and issued a $195.00 price target on shares of Facebook in a research note on Thursday, August 10th. Pivotal Research downgraded Facebook from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Robert W. Baird restated an “outperform” rating and issued a $185.00 price target (up from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Finally, Zacks Investment Research downgraded Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and three have given a strong buy rating to the company. Facebook has a consensus rating of “Buy” and a consensus price target of $183.74.
In related news, Director Jan Koum sold 3,600,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total value of $576,216,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $153.08, for a total transaction of $2,449,280.00. Following the completion of the sale, the insider now directly owns 206,428 shares of the company’s stock, valued at $31,599,998.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,405,594 shares of company stock valued at $2,014,792,849. Corporate insiders own 19.08% of the company’s stock.
Facebook Company Profile
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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