Mcrae Capital Management Inc. Has $438,000 Stake in Facebook, Inc. (FB)
Mcrae Capital Management Inc. grew its stake in shares of Facebook, Inc. (NASDAQ:FB) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,904 shares of the social networking company’s stock after purchasing an additional 53 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Facebook were worth $438,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its stake in shares of Facebook by 20.0% during the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after purchasing an additional 120 shares during the period. D. Scott Neal Inc. boosted its stake in shares of Facebook by 1,358.0% during the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of Facebook by 4.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the period. Pacific Center for Financial Services boosted its stake in shares of Facebook by 10.7% during the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares during the period. Finally, Watermark Asset Management Inc. purchased a new stake in shares of Facebook during the first quarter valued at approximately $141,000. 57.26% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Robert W. Baird reaffirmed an “outperform” rating and issued a $185.00 price target (up previously from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Mizuho reaffirmed a “buy” rating on shares of Facebook in a research note on Monday, August 7th. MKM Partners reaffirmed a “buy” rating and issued a $200.00 price target (up previously from $180.00) on shares of Facebook in a research note on Monday, August 7th. Finally, Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $185.38.
In other news, VP Colin Stretch sold 750 shares of the stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $153.36, for a total value of $115,020.00. Following the transaction, the vice president now directly owns 85,406 shares of the company’s stock, valued at $13,097,864.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Todd Schroepfer sold 37,914 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $154.43, for a total value of $5,855,059.02. Following the completion of the transaction, the insider now directly owns 856,491 shares in the company, valued at $132,267,905.13. The disclosure for this sale can be found here. Insiders have sold a total of 12,900,933 shares of company stock worth $2,118,781,506 over the last ninety days. 19.08% of the stock is currently owned by corporate insiders.
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Shares of Facebook, Inc. (NASDAQ:FB) opened at 172.23 on Monday. The company has a 50-day moving average price of $169.94 and a 200 day moving average price of $157.13. The company has a market capitalization of $500.19 billion, a P/E ratio of 38.55 and a beta of 0.70. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company posted $0.97 EPS. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities analysts anticipate that Facebook, Inc. will post $5.34 earnings per share for the current fiscal year.
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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