Enterprise Trust & Investment Co grew its stake in Facebook, Inc. (NASDAQ:FB) by 393.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 489 shares of the social networking company’s stock after buying an additional 390 shares during the period. Enterprise Trust & Investment Co’s holdings in Facebook were worth $87,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Cordasco Financial Network increased its stake 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 worth $33,000 after purchasing an additional 70 shares during the period. Shamrock Asset Management LLC bought a new position in shares of Facebook in the second quarter worth about $38,000. Clean Yield Group bought a new position in shares of Facebook in the second quarter worth about $39,000. Litman Gregory Asset Management LLC bought a new position in shares of Facebook in the second quarter worth about $41,000. Finally, Spectrum Management Group Inc. increased its stake 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 worth $46,000 after purchasing an additional 138 shares during the period. 63.18% of the stock is owned by institutional investors.
A number of research firms have recently commented on FB. Pivotal Research reiterated a “buy” rating and issued a $225.00 price objective (up from $220.00) on shares of Facebook in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $240.00 price objective on shares of Facebook in a research note on Thursday, July 25th. Robert W. Baird boosted their price target on Facebook from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. ValuEngine lowered Facebook from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Bank of America set a $224.00 price target on Facebook and gave the company a “buy” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and forty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $220.92.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.09. The company had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.74 EPS. On average, sell-side analysts expect that Facebook, Inc. will post 8.03 EPS for the current fiscal year.
In other news, CEO Mark Zuckerberg sold 76,484 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $175.34, for a total value of $13,410,704.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $195.13, for a total value of $10,732,150.00. The disclosure for this sale can be found here. Insiders sold a total of 3,304,056 shares of company stock worth $610,920,468 over the last three months. 14.53% of the stock is owned by company insiders.
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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