OmniStar Financial Group Inc. increased its stake in shares of Facebook, Inc. (NASDAQ:FB) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,709 shares of the social networking company’s stock after purchasing an additional 433 shares during the quarter. OmniStar Financial Group Inc.’s holdings in Facebook were worth $660,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of FB. Cordasco Financial Network increased its position in shares of Facebook by 70.0% in the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after buying an additional 70 shares in the last quarter. Shamrock Asset Management LLC purchased a new position in shares of Facebook in the second quarter valued at $38,000. Clean Yield Group purchased a new position in shares of Facebook in the second quarter valued at $39,000. Litman Gregory Asset Management LLC purchased a new position in shares of Facebook in the second quarter valued at $41,000. Finally, Spectrum Management Group Inc. increased its position in shares of Facebook by 135.3% in the second quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock valued at $46,000 after buying an additional 138 shares in the last quarter. 63.18% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on FB. Oppenheimer raised their price target on Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Canaccord Genuity raised their price target on Facebook from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Nomura raised their price target on Facebook from $226.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets dropped their price target on Facebook to $195.00 and set a “market perform” rating for the company in a research report on Tuesday, July 23rd. Finally, Bank of America set a $224.00 price target on Facebook and gave the company a “buy” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $221.62.
In other news, CRO David B. Fischer sold 12,267 shares of Facebook stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $184.12, for a total value of $2,258,600.04. Following the transaction, the executive now directly owns 48,970 shares of the company’s stock, valued at approximately $9,016,356.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 118,500 shares of Facebook stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $179.45, for a total value of $21,264,825.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,604,556 shares of company stock worth $664,101,293. 14.53% of the stock is owned by corporate insiders.
Shares of NASDAQ:FB opened at $184.19 on Friday. The stock’s 50-day moving average price is $183.27 and its two-hundred day moving average price is $185.18. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $208.66. The firm has a market cap of $513.10 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.05 and a beta of 1.02.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The firm had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same period last year, the company earned $1.74 EPS. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, research analysts forecast that Facebook, Inc. will post 7.99 earnings per share for the current fiscal year.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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