Bank Pictet & Cie Asia Ltd. Boosts Position in Facebook, Inc. (NASDAQ:FB)
Bank Pictet & Cie Asia Ltd. grew its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,754 shares of the social networking company’s stock after buying an additional 339 shares during the period. Facebook accounts for 1.2% of Bank Pictet & Cie Asia Ltd.’s portfolio, making the stock its 11th biggest position. Bank Pictet & Cie Asia Ltd.’s holdings in Facebook were worth $3,078,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Rocky Mountain Advisers LLC purchased a new stake in Facebook in the third quarter worth $26,000. Horan Capital Advisors LLC. purchased a new stake in Facebook in the third quarter worth $26,000. Carolina Wealth Advisors LLC grew its stake in Facebook by 58.2% in the third quarter. Carolina Wealth Advisors LLC now owns 144 shares of the social networking company’s stock worth $38,000 after purchasing an additional 53 shares during the period. Demars Financial Group LLC purchased a new stake in Facebook in the second quarter worth $39,000. Finally, Newfound Research LLC purchased a new stake in Facebook in the third quarter worth $40,000. 65.31% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. MKM Partners upped their price target on Facebook from $300.00 to $330.00 in a research note on Friday, October 30th. KeyCorp boosted their target price on Facebook from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. BMO Capital Markets boosted their target price on Facebook from $220.00 to $225.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Oppenheimer boosted their target price on Facebook from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Finally, Wells Fargo & Company boosted their target price on Facebook from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $293.84.
FB stock traded down $2.87 on Friday, hitting $270.07. 355,882 shares of the company’s stock were exchanged, compared to its average volume of 23,215,670. Facebook, Inc. has a 12-month low of $137.10 and a 12-month high of $304.67. The firm has a 50 day moving average price of $272.44 and a two-hundred day moving average price of $251.42. The stock has a market cap of $777.41 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Thursday, October 29th. The social networking company reported $2.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.77. The business had revenue of $21.47 billion during the quarter, compared to analysts’ expectations of $19.78 billion. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. As a group, sell-side analysts forecast that Facebook, Inc. will post 9.18 earnings per share for the current year.
In related news, VP Jennifer Newstead sold 426 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $295.54, for a total value of $125,900.04. Following the transaction, the vice president now directly owns 4,286 shares in the company, valued at $1,266,684.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 60,783 shares of the company’s stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $274.83, for a total value of $16,704,991.89. The disclosure for this sale can be found here. Insiders sold a total of 281,471 shares of company stock valued at $77,988,703 in the last ninety days. 14.14% of the stock is currently owned by insiders.
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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