M&R Capital Management Inc. boosted its stake in shares of Facebook Inc. (NASDAQ:FB) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,995 shares of the social networking company’s stock after buying an additional 2,150 shares during the period. Facebook accounts for approximately 1.3% of M&R Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. M&R Capital Management Inc.’s holdings in Facebook were worth $4,570,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in FB. Hartwell J M Limited Partnership boosted its position in shares of Facebook by 1.5% in the first quarter. Hartwell J M Limited Partnership now owns 287,865 shares of the social networking company’s stock valued at $32,845,000 after buying an additional 4,275 shares during the last quarter. Vicus Capital boosted its position in shares of Facebook by 12.2% in the first quarter. Vicus Capital now owns 4,004 shares of the social networking company’s stock valued at $457,000 after buying an additional 436 shares during the last quarter. Forte Capital LLC ADV bought a new position in shares of Facebook during the first quarter valued at $263,000. Quantitative Systematic Strategies LLC boosted its position in shares of Facebook by 112.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 7,094 shares of the social networking company’s stock valued at $814,000 after buying an additional 3,759 shares during the last quarter. Finally, First Manhattan Co. boosted its position in shares of Facebook by 28.8% in the first quarter. First Manhattan Co. now owns 27,527 shares of the social networking company’s stock valued at $3,140,000 after buying an additional 6,148 shares during the last quarter. 56.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Facebook Inc. (NASDAQ:FB) opened at 128.74 on Friday. Facebook Inc. has a one year low of $89.37 and a one year high of $131.98. The firm has a 50-day moving average of $127.42 and a 200-day moving average of $119.59. The company has a market cap of $369.70 billion, a price-to-earnings ratio of 61.54 and a beta of 0.77.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.15. The business earned $6.44 billion during the quarter, compared to analyst estimates of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The company’s revenue was up 59.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Equities research analysts forecast that Facebook Inc. will post $3.94 EPS for the current fiscal year.
FB has been the subject of several analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $165.00 price objective on shares of Facebook in a report on Tuesday, June 21st. Bank of America Corp. restated a “buy” rating and issued a $153.07 price objective (up previously from $123.94) on shares of Facebook in a report on Monday, August 1st. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $121.02 price objective for the company in a report on Monday, June 13th. Goldman Sachs Group Inc. raised their price objective on Facebook from $142.00 to $162.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, William Blair reiterated an “outperform” rating on shares of Facebook in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-four have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $149.99.
In related news, Director Jan Koum sold 1,721,436 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $118.13, for a total transaction of $203,353,234.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David B. Fischer sold 35,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $128.78, for a total transaction of $4,507,300.00. Following the sale, the vice president now directly owns 169,686 shares in the company, valued at approximately $21,852,163.08. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by company insiders.
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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