Factory Mutual Insurance Co. trimmed its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 882,000 shares of the social networking company’s stock after selling 55,500 shares during the period. Facebook accounts for 2.4% of Factory Mutual Insurance Co.’s portfolio, making the stock its 5th biggest position. Factory Mutual Insurance Co.’s holdings in Facebook were worth $157,065,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of FB. Cordasco Financial Network boosted its position in shares of Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares in the last quarter. Shamrock Asset Management LLC bought a new position in shares of Facebook during the 2nd quarter valued at about $38,000. Clean Yield Group bought a new position in shares of Facebook during the 2nd quarter valued at about $39,000. Litman Gregory Asset Management LLC bought a new position in shares of Facebook during the 2nd quarter valued at about $41,000. Finally, Spectrum Management Group Inc. boosted its position in shares of Facebook by 135.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock valued at $46,000 after purchasing an additional 138 shares in the last quarter. 63.23% of the stock is currently owned by institutional investors.
Several research analysts have commented on FB shares. Goldman Sachs Group set a $231.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Friday. SunTrust Banks reiterated a “buy” rating and issued a $215.00 target price on shares of Facebook in a report on Tuesday, July 23rd. Monness Crespi & Hardt raised their target price on shares of Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Credit Suisse Group raised their target price on shares of Facebook from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Facebook from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $223.11.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating 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 firm had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same quarter last year, the firm earned $1.74 earnings per share. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, research analysts expect that Facebook, Inc. will post 7.99 EPS for the current year.
In other news, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $180.47, for a total value of $9,925,850.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 7,500 shares of Facebook stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $187.62, for a total transaction of $1,407,150.00. The disclosure for this sale can be found here. In the last three months, insiders sold 4,035,838 shares of company stock worth $743,951,425. Insiders own 14.53% of the company’s stock.
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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