Point View Wealth Management Inc. acquired a new position in shares of Facebook, Inc. (NASDAQ:FB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,092 shares of the social networking company’s stock, valued at approximately $248,000.
A number of other institutional investors have also recently made changes to their positions in FB. Macquarie Group Ltd. raised its position in Facebook by 13.4% during the 4th quarter. Macquarie Group Ltd. now owns 736,299 shares of the social networking company’s stock worth $151,125,000 after buying an additional 87,024 shares during the last quarter. IMS Capital Management grew its stake in shares of Facebook by 7.4% during the 1st quarter. IMS Capital Management now owns 3,102 shares of the social networking company’s stock worth $517,000 after purchasing an additional 215 shares during the period. Fulton Bank N.A. grew its stake in shares of Facebook by 0.3% during the 1st quarter. Fulton Bank N.A. now owns 63,945 shares of the social networking company’s stock worth $10,666,000 after purchasing an additional 221 shares during the period. Blackhawk Capital Partners LLC. grew its stake in shares of Facebook by 5.2% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 12,136 shares of the social networking company’s stock worth $2,491,000 after purchasing an additional 603 shares during the period. Finally, Nexus Investment Management Inc. grew its stake in shares of Facebook by 0.9% during the 1st quarter. Nexus Investment Management Inc. now owns 108,880 shares of the social networking company’s stock worth $18,161,000 after purchasing an additional 940 shares during the period. Institutional investors own 65.12% of the company’s stock.
In other news, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total transaction of $40,241.42. Following the completion of the sale, the vice president now owns 406 shares of the company’s stock, valued at $84,216.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Wehner sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $209.90, for a total transaction of $1,679,200.00. Following the sale, the chief financial officer now directly owns 24,484 shares of the company’s stock, valued at approximately $5,139,191.60. The disclosure for this sale can be found here. Insiders sold 68,591 shares of company stock valued at $14,894,825 in the last ninety days. 14.14% of the stock is owned by corporate insiders.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The company had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. On average, equities analysts anticipate that Facebook, Inc. will post 7.36 earnings per share for the current year.
A number of equities analysts have recently weighed in on FB shares. BMO Capital Markets upped their price target on shares of Facebook from $220.00 to $225.00 and gave the stock a “market perform” rating in a research note on Friday. Canaccord Genuity reissued a “buy” rating and issued a $290.00 price objective (up from $275.00) on shares of Facebook in a research note on Friday. Needham & Company LLC assumed coverage on shares of Facebook in a research note on Thursday, July 2nd. They issued a “hold” rating on the stock. TheStreet raised shares of Facebook from a “c+” rating to a “b” rating in a research note on Thursday, April 30th. Finally, Oppenheimer reissued a “buy” rating and issued a $270.00 price objective (up from $240.00) on shares of Facebook in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $273.37.
Facebook Company Profile
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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