Kovack Advisors Inc. grew its position in Facebook, Inc. (NASDAQ:FB) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,395 shares of the social networking company’s stock after buying an additional 223 shares during the quarter. Facebook makes up approximately 0.8% of Kovack Advisors Inc.’s portfolio, making the stock its 15th largest position. Kovack Advisors Inc.’s holdings in Facebook were worth $5,844,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of FB. California State Teachers Retirement System boosted its position in Facebook by 0.5% during the third quarter. California State Teachers Retirement System now owns 4,704,659 shares of the social networking company’s stock valued at $1,232,150,000 after purchasing an additional 21,732 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in Facebook by 9.1% during the third quarter. Chartwell Investment Partners LLC now owns 93,424 shares of the social networking company’s stock valued at $24,468,000 after purchasing an additional 7,780 shares during the last quarter. CX Institutional raised its holdings in Facebook by 24.3% in the 4th quarter. CX Institutional now owns 7,131 shares of the social networking company’s stock worth $1,948,000 after acquiring an additional 1,394 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Facebook by 1.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 776,554 shares of the social networking company’s stock worth $203,379,000 after purchasing an additional 11,169 shares during the last quarter. Finally, Burney Co. boosted its position in shares of Facebook by 1.4% in the third quarter. Burney Co. now owns 61,960 shares of the social networking company’s stock valued at $16,227,000 after acquiring an additional 853 shares during the period. 59.62% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. MKM Partners boosted their price target on shares of Facebook from $300.00 to $330.00 in a report on Friday, October 30th. Moffett Nathanson raised their target price on Facebook from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. UBS Group set a $330.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research report on Friday, October 30th. Wells Fargo & Company increased their price objective on Facebook from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Raymond James boosted their target price on Facebook from $280.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and a consensus target price of $299.24.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Thursday, October 29th. The social networking company reported $2.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.77. The company had revenue of $21.47 billion for the quarter, compared to the consensus estimate of $19.78 billion. Facebook had a net margin of 32.00% and a return on equity of 23.27%. The firm’s revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company earned $2.12 earnings per share. As a group, equities analysts anticipate that Facebook, Inc. will post 9.39 EPS for the current year.
In other Facebook news, CRO David B. Fischer sold 13,118 shares of the stock in a transaction on Monday, November 30th. The shares were sold at an average price of $276.02, for a total value of $3,620,830.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer Newstead sold 426 shares of Facebook stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $263.06, for a total transaction of $112,063.56. Following the completion of the transaction, the vice president now directly owns 1,304 shares of the company’s stock, valued at approximately $343,030.24. The disclosure for this sale can be found here. Insiders sold a total of 1,197,194 shares of company stock worth $327,128,221 over the last quarter. Company insiders own 14.14% of the company’s stock.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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