Wright Investors Service Inc. lifted its stake in shares of Facebook Inc (NASDAQ:FB) by 10.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,441 shares of the social networking company’s stock after purchasing an additional 2,966 shares during the quarter. Facebook comprises about 1.9% of Wright Investors Service Inc.’s investment portfolio, making the stock its 7th largest holding. Wright Investors Service Inc.’s holdings in Facebook were worth $5,201,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of FB. Investec Asset Management PTY Ltd acquired a new position in Facebook during the first quarter worth about $524,000. Segantii Capital Management Ltd acquired a new position in Facebook during the first quarter worth about $2,841,000. SRS Capital Advisors Inc. grew its holdings in Facebook by 60.7% during the first quarter. SRS Capital Advisors Inc. now owns 2,868 shares of the social networking company’s stock worth $407,000 after acquiring an additional 1,083 shares during the period. Accident Compensation Corp grew its holdings in Facebook by 10.5% during the first quarter. Accident Compensation Corp now owns 21,000 shares of the social networking company’s stock worth $2,983,000 after acquiring an additional 2,000 shares during the period. Finally, State Street Corp grew its holdings in Facebook by 1.7% during the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after acquiring an additional 1,536,158 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.
A number of research firms recently issued reports on FB. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $180.74 target price on the stock in a report on Monday, September 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $195.00 target price (up from $190.00) on shares of Facebook in a report on Monday, October 2nd. Wells Fargo & Co set a $215.00 target price on Facebook and gave the stock a “buy” rating in a report on Friday, October 6th. Atlantic Securities set a $215.00 target price on Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 target price on shares of Facebook in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, forty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $201.84.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. During the same period last year, the company posted $1.09 EPS. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. equities research analysts forecast that Facebook Inc will post 5.86 EPS for the current year.
In other news, VP David B. Fischer sold 16,621 shares of Facebook stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $183.51, for a total transaction of $3,050,119.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $172.98, for a total value of $129,735.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,568,712 shares of company stock valued at $818,756,804 over the last 90 days. Corporate insiders own 17.23% of the company’s stock.
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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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