Bridges Investment Management Inc. Grows Stake in Facebook, Inc. (NASDAQ:FB)

Bridges Investment Management Inc. boosted its position in Facebook, Inc. (NASDAQ:FB) by 40.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,273 shares of the social networking company’s stock after purchasing an additional 61,797 shares during the period. Facebook comprises 1.6% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 16th biggest position. Bridges Investment Management Inc.’s holdings in Facebook were worth $35,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FB. Candriam Luxembourg S.C.A. increased its stake in Facebook by 4.3% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 560,106 shares of the social networking company’s stock valued at $114,965,000 after purchasing an additional 22,843 shares in the last quarter. Private Advisory Group LLC grew its holdings in Facebook by 5.1% during the 4th quarter. Private Advisory Group LLC now owns 42,447 shares of the social networking company’s stock valued at $8,712,000 after buying an additional 2,063 shares during the last quarter. Vanguard Capital Wealth Advisors grew its holdings in Facebook by 1.0% during the 4th quarter. Vanguard Capital Wealth Advisors now owns 10,619 shares of the social networking company’s stock valued at $2,179,000 after buying an additional 104 shares during the last quarter. Dearborn Partners LLC grew its holdings in Facebook by 13.7% during the 4th quarter. Dearborn Partners LLC now owns 1,284 shares of the social networking company’s stock valued at $264,000 after buying an additional 155 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in Facebook by 6.1% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 28,827 shares of the social networking company’s stock valued at $5,917,000 after buying an additional 1,656 shares during the last quarter. 65.11% of the stock is owned by hedge funds and other institutional investors.

FB stock traded down $0.37 during midday trading on Friday, reaching $225.09. The company had a trading volume of 23,064,766 shares, compared to its average volume of 24,315,716. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average price of $200.58 and a 200 day moving average price of $197.37. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $240.90. The firm has a market capitalization of $641.30 billion, a PE ratio of 30.83, a P/E/G ratio of 1.63 and a beta of 1.16.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, April 29th. The social networking company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.07). Facebook had a net margin of 28.57% and a return on equity of 21.54%. The company had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.25 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. Research analysts predict that Facebook, Inc. will post 7.27 EPS for the current year.

A number of equities research analysts have commented on the company. Raymond James increased their target price on Facebook from $215.00 to $240.00 and gave the company a “strong-buy” rating in a report on Thursday, April 30th. Royal Bank of Canada increased their target price on Facebook from $238.00 to $271.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Needham & Company LLC restated a “hold” rating on shares of Facebook in a report on Thursday, April 30th. Wedbush restated an “outperform” rating and set a $250.00 price objective on shares of Facebook in a report on Thursday, April 16th. Finally, Credit Suisse Group raised their price objective on Facebook from $234.00 to $258.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $242.74.

In other news, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the completion of the transaction, the executive now directly owns 57,503 shares in the company, valued at $11,804,790.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $240.00, for a total value of $46,560.00. Following the transaction, the vice president now owns 3,664 shares of the company’s stock, valued at $879,360. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,585 shares of company stock valued at $11,885,393. 14.14% of the stock is currently owned by insiders.

Facebook Company Profile

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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