Newman Dignan & Sheerar Inc. decreased its position in shares of Facebook, Inc. (NASDAQ:FB) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,729 shares of the social networking company’s stock after selling 103 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in Facebook were worth $913,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FB. Cordasco Financial Network boosted its position in Facebook by 70.0% in the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after buying an additional 70 shares in the last quarter. Whitnell & Co. acquired a new stake in Facebook in the fourth quarter valued at approximately $26,000. Clean Yield Group acquired a new stake in Facebook in the second quarter valued at approximately $39,000. Litman Gregory Asset Management LLC acquired a new stake in Facebook in the second quarter valued at approximately $41,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Facebook in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 62.11% of the company’s stock.
In other Facebook news, CEO Mark Zuckerberg sold 133,100 shares of Facebook stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $188.66, for a total value of $25,110,646.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David M. Wehner sold 10,748 shares of Facebook stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $184.50, for a total transaction of $1,983,006.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 675,183 shares of company stock worth $126,091,951. 14.53% of the stock is owned by corporate insiders.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The business had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same period in the previous year, the company earned $1.74 earnings per share. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Facebook, Inc. will post 7.96 EPS for the current year.
FB has been the subject of several analyst reports. Canaccord Genuity raised their price target on shares of Facebook from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. ValuEngine downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen reaffirmed an “outperform” rating and set a $225.00 price target (up previously from $195.00) on shares of Facebook in a research note on Thursday, April 25th. SunTrust Banks reaffirmed a “buy” rating and set a $215.00 price target on shares of Facebook in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Facebook from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $220.92.
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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