Icon Advisers Inc. Co. increased its stake in Facebook Inc. (NASDAQ:FB) by 3.5% during the third quarter, Holdings Channel reports. The institutional investor owned 126,550 shares of the social networking company’s stock after buying an additional 4,300 shares during the period. Facebook accounts for 1.1% of Icon Advisers Inc. Co.’s portfolio, making the stock its 5th largest position. Icon Advisers Inc. Co.’s holdings in Facebook were worth $16,233,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. raised its stake in shares of Facebook by 11.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 901 shares of the social networking company’s stock valued at $116,000 after buying an additional 96 shares during the period. Orinda Asset Management LLC acquired a new stake in shares of Facebook during the third quarter valued at $126,000. Capital Advisors Ltd. LLC raised its stake in shares of Facebook by 182.2% in the third quarter. Capital Advisors Ltd. LLC now owns 1,092 shares of the social networking company’s stock valued at $140,000 after buying an additional 705 shares during the period. Bartlett & Co. LLC raised its stake in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock valued at $128,000 after buying an additional 91 shares during the period. Finally, West Oak Capital LLC raised its stake in shares of Facebook by 53.3% in the third quarter. West Oak Capital LLC now owns 1,150 shares of the social networking company’s stock valued at $148,000 after buying an additional 400 shares during the period. Institutional investors own 56.09% of the company’s stock.
Shares of Facebook Inc. (NASDAQ:FB) traded up 1.00% on Tuesday, reaching $118.44. 8,189,128 shares of the company were exchanged. The firm has a market capitalization of $341.36 billion, a PE ratio of 45.66 and a beta of 0.68. Facebook Inc. has a 12-month low of $89.37 and a 12-month high of $133.50. The stock’s 50-day moving average is $119.15 and its 200 day moving average is $122.53.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, November 2nd. The social networking company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Facebook had a return on equity of 16.51% and a net margin of 30.32%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s revenue was up 55.8% on a year-over-year basis. On average, analysts forecast that Facebook Inc. will post $4.09 EPS for the current year.
Several analysts have recently weighed in on FB shares. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $131.43 target price on the stock. in a research report on Monday, August 29th. William Blair reissued an “outperform” rating on shares of Facebook in a report on Sunday, September 4th. Robert W. Baird reissued an “outperform” rating and set a $155.00 price target on shares of Facebook in a report on Tuesday, September 6th. Morgan Stanley lifted their price target on shares of Facebook from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, September 7th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $170.00 price target on shares of Facebook in a report on Friday, September 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-four have issued a buy rating and three have assigned a strong buy rating to the company. Facebook presently has an average rating of “Buy” and a consensus target price of $149.80.
In other news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $128.27, for a total transaction of $96,202.50. Following the completion of the transaction, the vice president now owns 84,540 shares of the company’s stock, valued at $10,843,945.80. 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 52,817 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $127.86, for a total value of $6,753,181.62. Following the transaction, the insider now directly owns 390,533 shares of the company’s stock, valued at approximately $49,933,549.38. The disclosure for this sale can be found here. Insiders own 19.08% of the company’s stock.
Facebook Company Profile
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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