Concentrum Wealth Management lowered its position in Facebook, Inc. (NASDAQ:FB) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,617 shares of the social networking company’s stock after selling 10,692 shares during the period. Facebook makes up approximately 54.4% of Concentrum Wealth Management’s investment portfolio, making the stock its biggest holding. Concentrum Wealth Management’s holdings in Facebook were worth $48,360,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FB. Nuveen Asset Management LLC lifted its stake in Facebook by 5,336.8% in the second quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock worth $4,341,794,000 after purchasing an additional 22,082,561 shares during the last quarter. Viking Global Investors LP raised its stake in shares of Facebook by 231.7% during the second quarter. Viking Global Investors LP now owns 7,063,705 shares of the social networking company’s stock valued at $1,363,295,000 after acquiring an additional 4,934,406 shares in the last quarter. Marshall Wace North America L.P. raised its stake in shares of Facebook by 577.3% during the second quarter. Marshall Wace North America L.P. now owns 1,671,746 shares of the social networking company’s stock valued at $322,647,000 after acquiring an additional 1,424,922 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Facebook by 32.6% during the third quarter. California Public Employees Retirement System now owns 5,218,412 shares of the social networking company’s stock valued at $929,295,000 after acquiring an additional 1,284,127 shares in the last quarter. Finally, Johanson Financial Advisors Inc. raised its stake in shares of Facebook by 21,147.8% during the fourth quarter. Johanson Financial Advisors Inc. now owns 1,219,198 shares of the social networking company’s stock valued at $5,940,000 after acquiring an additional 1,213,460 shares in the last quarter. 63.77% of the stock is owned by institutional investors and hedge funds.
In related news, VP Jennifer Newstead sold 260 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $197.40, for a total transaction of $51,324.00. Following the completion of the transaction, the vice president now directly owns 6,717 shares in the company, valued at $1,325,935.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 139,900 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $195.40, for a total transaction of $27,336,460.00. The disclosure for this sale can be found here. Insiders have sold 1,228,140 shares of company stock worth $233,184,417 over the last three months. Corporate insiders own 14.53% of the company’s stock.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.21. The firm had revenue of $17.65 billion for the quarter, compared to analyst estimates of $17.35 billion. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 earnings per share. As a group, research analysts anticipate that Facebook, Inc. will post 8.48 EPS for the current fiscal year.
Several analysts have recently weighed in on FB shares. Aegis lifted their price target on shares of Facebook from $235.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, December 30th. Barclays decreased their price target on shares of Facebook from $240.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Zacks Investment Research downgraded shares of Facebook from a “hold” rating to a “sell” rating and set a $229.00 price target for the company. in a research note on Friday, January 10th. Citigroup reaffirmed a “buy” rating and set a $240.00 price target on shares of Facebook in a research note on Tuesday, December 3rd. Finally, Nomura lifted their price target on shares of Facebook from $235.00 to $253.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $238.04.
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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