Wealthquest Corp decreased its position in shares of Facebook, Inc. (NASDAQ:FB) by 7.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,428 shares of the social networking company’s stock after selling 109 shares during the quarter. Wealthquest Corp’s holdings in Facebook were worth $293,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Intact Investment Management Inc. increased its position in shares of Facebook by 100.0% in the 4th quarter. Intact Investment Management Inc. now owns 14,400 shares of the social networking company’s stock valued at $2,953,000 after buying an additional 7,200 shares in the last quarter. Bronson Point Management LLC increased its position in shares of Facebook by 166.7% in the 4th quarter. Bronson Point Management LLC now owns 20,000 shares of the social networking company’s stock valued at $4,105,000 after buying an additional 12,500 shares in the last quarter. Capital World Investors increased its position in shares of Facebook by 5.4% in the 4th quarter. Capital World Investors now owns 46,700,441 shares of the social networking company’s stock valued at $9,585,263,000 after buying an additional 2,405,542 shares in the last quarter. Great Lakes Retirement Inc. bought a new stake in shares of Facebook in the 4th quarter valued at $1,644,000. Finally, IHT Wealth Management LLC increased its position in shares of Facebook by 2.2% in the 4th quarter. IHT Wealth Management LLC now owns 22,926 shares of the social networking company’s stock valued at $4,706,000 after buying an additional 493 shares in the last quarter. 65.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on FB. Robert W. Baird reiterated a “buy” rating and set a $230.00 target price on shares of Facebook in a report on Thursday, January 30th. Monness Crespi & Hardt reduced their price objective on shares of Facebook from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday. Mizuho restated a “buy” rating and set a $240.00 price objective on shares of Facebook in a research note on Wednesday, January 22nd. Tigress Financial restated a “buy” rating on shares of Facebook in a research note on Friday, December 27th. Finally, UBS Group reduced their price objective on shares of Facebook from $250.00 to $246.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $244.40.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, January 29th. The social networking company reported $2.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.03. Facebook had a net margin of 26.15% and a return on equity of 19.97%. The company had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $20.90 billion. During the same period last year, the firm earned $2.38 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. Analysts forecast that Facebook, Inc. will post 8.97 earnings per share for the current fiscal year.
In related news, CRO David B. Fischer sold 11,142 shares of Facebook stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $192.00, for a total value of $2,139,264.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jennifer Newstead sold 260 shares of Facebook stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $212.85, for a total transaction of $55,341.00. Following the completion of the transaction, the vice president now directly owns 1,306 shares in the company, valued at $277,982.10. The disclosure for this sale can be found here. Insiders have sold 84,067 shares of company stock worth $17,392,181 over the last ninety days. 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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