Indiana Trust & Investment Management CO trimmed its position in Facebook, Inc. (NASDAQ:FB) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,738 shares of the social networking company’s stock after selling 660 shares during the period. Facebook makes up about 1.2% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 16th largest holding. Indiana Trust & Investment Management CO’s holdings in Facebook were worth $2,279,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Flagship Private Wealth LLC acquired a new stake in shares of Facebook during the 4th quarter valued at $25,000. DB Wealth Management Group LLC acquired a new stake in shares of Facebook during the 4th quarter valued at $27,000. Klaas Financial Asset Advisors LLC acquired a new stake in shares of Facebook during the 4th quarter valued at $27,000. Litman Gregory Asset Management LLC acquired a new stake in shares of Facebook during the 4th quarter valued at $27,000. Finally, ADE LLC acquired a new stake in shares of Facebook during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 64.95% of the company’s stock.
FB has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Facebook from a “buy” rating to a “hold” rating and set a $308.00 target price on the stock. in a research note on Tuesday, March 23rd. KeyCorp boosted their target price on shares of Facebook from $345.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Loop Capital boosted their target price on shares of Facebook from $330.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, February 16th. Wolfe Research initiated coverage on shares of Facebook in a research note on Wednesday, March 31st. They set an “outperform” rating on the stock. Finally, Truist boosted their target price on shares of Facebook from $320.00 to $333.00 in a research note on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $327.15.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 27th. The social networking company reported $3.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.64. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The business had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $26.43 billion. During the same quarter last year, the company earned $2.56 earnings per share. The firm’s revenue was up 33.2% on a year-over-year basis. Analysts anticipate that Facebook, Inc. will post 9.39 EPS for the current fiscal year.
In related news, VP Jennifer Newstead sold 213 shares of the stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $256.75, for a total value of $54,687.75. Following the completion of the transaction, the vice president now owns 1,146 shares of the company’s stock, valued at $294,235.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 8,000 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $307.20, for a total transaction of $2,457,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,436,094 shares of company stock valued at $390,590,898. 14.14% of the stock is owned by corporate insiders.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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