Facebook, Inc. (FB) Stake Lifted by Employees Retirement System of Texas

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Employees Retirement System of Texas grew its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 491,042 shares of the social networking company’s stock after purchasing an additional 2,300 shares during the period. Facebook makes up approximately 1.3% of Employees Retirement System of Texas’ investment portfolio, making the stock its 8th biggest position. Employees Retirement System of Texas’ holdings in Facebook were worth $95,419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Townsend & Associates Inc grew its position in Facebook by 6.6% in the second quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock worth $792,000 after acquiring an additional 254 shares in the last quarter. Winslow Evans & Crocker Inc. grew its position in Facebook by 2.2% in the second quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock worth $2,462,000 after acquiring an additional 274 shares in the last quarter. Valmark Advisers Inc. grew its position in Facebook by 18.6% in the second quarter. Valmark Advisers Inc. now owns 1,797 shares of the social networking company’s stock worth $349,000 after acquiring an additional 282 shares in the last quarter. Harvest Group Wealth Management LLC grew its position in Facebook by 2.4% in the first quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock worth $1,986,000 after acquiring an additional 286 shares in the last quarter. Finally, Truewealth LLC grew its position in Facebook by 7.1% in the second quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock worth $837,000 after acquiring an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Several research firms recently commented on FB. Royal Bank of Canada reiterated a “buy” rating and issued a $195.00 price target on shares of Facebook in a research report on Monday, September 3rd. Robert W. Baird reiterated a “buy” rating and issued a $195.00 price target on shares of Facebook in a research report on Monday, September 3rd. Wells Fargo & Co reissued a “buy” rating and issued a $220.00 price objective on shares of Facebook in a research note on Thursday, August 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $202.00 price objective on shares of Facebook in a research note on Thursday, August 23rd. Finally, Moffett Nathanson reissued a “neutral” rating and issued a $175.00 price objective on shares of Facebook in a research note on Tuesday, September 4th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $191.80.

Facebook stock opened at $137.42 on Friday. Facebook, Inc. has a fifty-two week low of $126.85 and a fifty-two week high of $218.62. The company has a market cap of $400.69 billion, a PE ratio of 22.31, a P/E/G ratio of 0.87 and a beta of 0.57.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The company’s revenue was up 32.9% on a year-over-year basis. On average, sell-side analysts expect that Facebook, Inc. will post 7.36 EPS for the current fiscal year.

In other news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $163.25, for a total transaction of $122,437.50. Following the completion of the sale, the vice president now owns 96,144 shares of the company’s stock, valued at $15,695,508. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan J.S. Taylor sold 2,112 shares of Facebook stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $137.50, for a total transaction of $290,400.00. Following the transaction, the insider now directly owns 6,927 shares in the company, valued at $952,462.50. The disclosure for this sale can be found here. Insiders have sold 518,103 shares of company stock valued at $79,159,534 in the last ninety days. Insiders own 17.23% of the company’s stock.

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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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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