Busey Trust CO lowered its position in Facebook, Inc. (NASDAQ:FB) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,575 shares of the social networking company’s stock after selling 2,144 shares during the period. Facebook comprises 2.0% of Busey Trust CO’s investment portfolio, making the stock its 13th largest position. Busey Trust CO’s holdings in Facebook were worth $16,275,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in FB. Norges Bank purchased a new stake in Facebook during the fourth quarter valued at $2,046,500,000. HPM Partners LLC purchased a new stake in Facebook during the first quarter valued at $195,602,000. Alecta Pensionsforsakring Omsesidigt increased its stake in Facebook by 131.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,970,000 shares of the social networking company’s stock valued at $279,838,000 after buying an additional 1,120,000 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Facebook by 29.0% in the first quarter. Russell Investments Group Ltd. now owns 3,643,713 shares of the social networking company’s stock valued at $517,583,000 after buying an additional 818,374 shares during the last quarter. Finally, Appaloosa LP increased its stake in Facebook by 47.0% in the fourth quarter. Appaloosa LP now owns 2,182,350 shares of the social networking company’s stock valued at $251,079,000 after buying an additional 697,742 shares during the last quarter. 57.40% of the stock is owned by institutional investors.
Shares of Facebook, Inc. (NASDAQ:FB) opened at 167.41 on Friday. The firm’s 50 day moving average is $163.85 and its 200-day moving average is $148.79. The firm has a market cap of $486.19 billion, a price-to-earnings ratio of 37.47 and a beta of 0.70. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 44.8% compared to the same quarter last year. Equities research analysts predict that Facebook, Inc. will post $5.33 EPS for the current year.
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Several brokerages recently issued reports on FB. Pacific Crest restated an “overweight” rating and issued a $155.00 price target on shares of Facebook in a research report on Monday, April 24th. Needham & Company LLC boosted their price target on Facebook from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Wedbush set a $185.00 target price on Facebook and gave the stock a “buy” rating in a research report on Thursday, May 4th. Morgan Stanley reiterated a “buy” rating and set a $175.00 target price on shares of Facebook in a research report on Thursday, May 4th. Finally, Nomura set a $165.00 target price on Facebook and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have given a buy rating and three have given a strong buy rating to the company. Facebook currently has a consensus rating of “Buy” and a consensus price target of $183.47.
In related news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $148.03, for a total transaction of $2,368,480.00. Following the completion of the transaction, the insider now owns 221,328 shares in the company, valued at $32,763,183.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $148.54, for a total transaction of $111,405.00. Following the transaction, the vice president now owns 90,656 shares of the company’s stock, valued at approximately $13,466,042.24. The disclosure for this sale can be found here. Insiders have sold 12,702,398 shares of company stock valued at $2,054,828,660 in the last 90 days. 19.08% of the stock is currently owned by corporate insiders.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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