Telemus Capital LLC lifted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,775 shares of the social networking company’s stock after acquiring an additional 296 shares during the period. Facebook accounts for about 0.9% of Telemus Capital LLC’s holdings, making the stock its 19th biggest position. Telemus Capital LLC’s holdings in Facebook were worth $11,227,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in FB. Townsend & Associates Inc raised its stake in shares of Facebook by 6.6% during the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock worth $792,000 after buying an additional 254 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Facebook by 2.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock valued at $2,462,000 after purchasing an additional 274 shares during the last quarter. Harvest Group Wealth Management LLC raised its stake in Facebook by 2.4% in the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock valued at $1,986,000 after purchasing an additional 286 shares during the last quarter. Truewealth LLC raised its stake in Facebook by 7.1% in the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock valued at $837,000 after purchasing an additional 287 shares during the last quarter. Finally, Sit Investment Associates Inc. raised its stake in Facebook by 0.5% in the 2nd quarter. Sit Investment Associates Inc. now owns 56,660 shares of the social networking company’s stock valued at $11,010,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 60.17% of the company’s stock.
Several research firms have commented on FB. ValuEngine cut Facebook from a “hold” rating to a “sell” rating in a report on Friday. Argus lowered their price target on Facebook from $210.00 to $206.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Morgan Stanley lowered their price target on Facebook from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 31st. Raymond James lowered their price target on Facebook from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 31st. Finally, Rosenblatt Securities set a $206.00 price target on Facebook and gave the company a “buy” rating in a report on Wednesday, October 31st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $194.54.
Facebook (NASDAQ:FB) last announced its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the company posted $1.59 EPS. Facebook’s quarterly revenue was up 32.9% on a year-over-year basis. On average, analysts anticipate that Facebook, Inc. will post 7.35 earnings per share for the current year.
In related news, insider Michael Todd Schroepfer sold 38,164 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $142.92, for a total transaction of $5,454,398.88. Following the sale, the insider now directly owns 588,694 shares of the company’s stock, valued at approximately $84,136,146.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.67, for a total value of $9,661,850.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,973,537 shares of company stock worth $338,763,881. 17.23% of the stock is currently owned by corporate insiders.
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Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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