Facebook, Inc. (NASDAQ:FB) Shares Bought by Busey Wealth Management

Busey Wealth Management grew its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 6.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 116,609 shares of the social networking company’s stock after acquiring an additional 7,218 shares during the quarter. Facebook comprises approximately 1.7% of Busey Wealth Management’s holdings, making the stock its 13th largest position. Busey Wealth Management’s holdings in Facebook were worth $34,345,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FB. Flagship Private Wealth LLC acquired a new stake in shares of Facebook in the fourth quarter valued at $25,000. RBA Wealth Management LLC acquired a new stake in shares of Facebook during the first quarter worth $25,000. DB Wealth Management Group LLC acquired a new stake in shares of Facebook during the fourth quarter worth $27,000. Klaas Financial Asset Advisors LLC acquired a new stake in shares of Facebook during the fourth quarter worth $27,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in shares of Facebook during the fourth quarter worth $27,000. Institutional investors own 64.95% of the company’s stock.

Shares of FB stock opened at $301.47 on Thursday. The business has a fifty day simple moving average of $288.24 and a 200-day simple moving average of $274.95. Facebook, Inc. has a fifty-two week low of $178.14 and a fifty-two week high of $315.88. The stock has a market cap of $858.49 billion, a P/E ratio of 34.34, a P/E/G ratio of 1.29 and a beta of 1.18.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, January 27th. The social networking company reported $3.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.64. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The business had revenue of $28.10 million during the quarter, compared to the consensus estimate of $26.43 billion. During the same period in the previous year, the business earned $2.56 EPS. The business’s quarterly revenue was up 33.2% on a year-over-year basis. Analysts forecast that Facebook, Inc. will post 9.39 EPS for the current year.

Several brokerages have weighed in on FB. Evercore ISI reaffirmed an “outperform” rating and issued a $370.00 target price on shares of Facebook in a research report on Tuesday, April 13th. Morgan Stanley upped their price target on Facebook from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. JPMorgan Chase & Co. increased their target price on Facebook from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating and set a $308.00 price objective on the stock. in a research report on Tuesday, March 23rd. Finally, Wedbush restated a “neutral” rating and issued a $340.00 price target (down from $375.00) on shares of Facebook in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and an average price target of $327.03.

In other Facebook news, CEO Mark Zuckerberg sold 68,000 shares of the business’s stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $299.72, for a total transaction of $20,380,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Newstead sold 310 shares of the business’s stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $278.08, for a total value of $86,204.80. Following the transaction, the vice president now owns 739 shares of the company’s stock, valued at approximately $205,501.12. The disclosure for this sale can be found here. Insiders have sold a total of 1,619,918 shares of company stock valued at $457,346,443 in the last 90 days. Insiders own 14.14% of the company’s stock.

About Facebook

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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