FARMERS & MERCHANTS TRUST Co OF LONG BEACH Grows Stake in Facebook, Inc. (NASDAQ:FB)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 44.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,325 shares of the social networking company’s stock after acquiring an additional 1,647 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Facebook were worth $1,807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FB. Baldrige Asset Management LLC bought a new stake in Facebook during the 2nd quarter valued at approximately $31,000. Capital Directions Investment Advisors LLC purchased a new position in shares of Facebook in the 2nd quarter valued at approximately $31,000. Lion Street Advisors LLC bought a new stake in shares of Facebook during the second quarter valued at approximately $43,000. Filbrandt Wealth Management LLC purchased a new stake in Facebook in the third quarter worth $43,000. Finally, True Link Financial Advisors LLC bought a new position in Facebook in the second quarter worth $45,000. 65.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FB stock traded up $3.81 during mid-day trading on Thursday, hitting $341.06. The company had a trading volume of 13,552,153 shares, compared to its average volume of 18,765,395. Facebook, Inc. has a 52-week low of $244.61 and a 52-week high of $384.33. The stock’s 50 day moving average price is $336.80 and its 200-day moving average price is $344.31. The company has a market capitalization of $948.75 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.22 and a beta of 1.27.

Facebook (NASDAQ:FB) last released its earnings results on Sunday, October 24th. The social networking company reported $3.22 EPS for the quarter, topping the consensus estimate of $3.19 by $0.03. The firm had revenue of $29.01 billion for the quarter, compared to the consensus estimate of $29.52 billion. Facebook had a net margin of 35.88% and a return on equity of 30.22%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 earnings per share. As a group, equities analysts expect that Facebook, Inc. will post 13.96 earnings per share for the current year.

A number of analysts have recently weighed in on FB shares. DZ Bank downgraded shares of Facebook from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Tuesday, October 5th. Royal Bank of Canada decreased their target price on shares of Facebook from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Tuesday, October 26th. Truist Securities lifted their target price on shares of Facebook from $400.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Credit Suisse Group cut their price target on Facebook from $500.00 to $430.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 26th. Finally, Rosenblatt Securities upgraded Facebook from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Tuesday, October 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Facebook currently has a consensus rating of “Buy” and a consensus price target of $398.00.

In other Facebook news, insider Jennifer Newstead sold 250 shares of the business’s stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $338.82, for a total transaction of $84,705.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Susan J.S. Taylor sold 1,378 shares of the business’s stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $344.22, for a total transaction of $474,335.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,893,113 shares of company stock worth $660,001,361. 14.01% of the stock is owned by insiders.

About Facebook

Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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