Facebook, Inc. (NASDAQ:FB) Shares Bought by Bank Pictet & Cie Asia Ltd.
Bank Pictet & Cie Asia Ltd. boosted its position in shares of Facebook, Inc. (NASDAQ:FB) by 3.0% in the third quarter, HoldingsChannel.com reports. The fund owned 11,754 shares of the social networking company’s stock after acquiring an additional 339 shares during the quarter. Facebook comprises about 1.2% of Bank Pictet & Cie Asia Ltd.’s portfolio, making the stock its 11th largest holding. Bank Pictet & Cie Asia Ltd.’s holdings in Facebook were worth $3,078,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of FB. Morgan Stanley lifted its position in Facebook by 2.4% during the 1st quarter. Morgan Stanley now owns 17,661,522 shares of the social networking company’s stock worth $2,945,942,000 after acquiring an additional 412,559 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of Facebook by 7.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,870 shares of the social networking company’s stock valued at $652,000 after buying an additional 193 shares during the period. Brookstone Capital Management lifted its holdings in shares of Facebook by 30.7% in the 2nd quarter. Brookstone Capital Management now owns 12,465 shares of the social networking company’s stock valued at $2,830,000 after buying an additional 2,927 shares during the period. Eastern Bank lifted its holdings in shares of Facebook by 8.6% in the 2nd quarter. Eastern Bank now owns 121,835 shares of the social networking company’s stock valued at $27,665,000 after buying an additional 9,649 shares during the period. Finally, Sara Bay Financial acquired a new position in shares of Facebook in the 2nd quarter valued at about $8,599,000. 65.31% of the stock is owned by institutional investors.
FB traded down $2.87 during trading hours on Friday, reaching $270.07. The company’s stock had a trading volume of 355,882 shares, compared to its average volume of 23,215,670. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $304.67. The stock has a market cap of $777.41 billion, a PE ratio of 30.94, a P/E/G ratio of 1.69 and a beta of 1.26. The business’s 50-day moving average is $272.44 and its 200-day moving average is $251.42.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Thursday, October 29th. The social networking company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.77. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The firm had revenue of $21.47 billion for the quarter, compared to analysts’ expectations of $19.78 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Facebook, Inc. will post 9.18 earnings per share for the current fiscal year.
In other Facebook news, VP Jennifer Newstead sold 426 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $295.54, for a total transaction 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 can be accessed through the SEC website. Also, CRO David B. Fischer sold 13,110 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $293.95, for a total value of $3,853,684.50. The disclosure for this sale can be found here. Insiders sold 281,471 shares of company stock worth $77,988,703 over the last quarter. 14.14% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on FB. UBS Group set a $330.00 price objective on Facebook and gave the company a “buy” rating in a report on Friday, October 30th. Argus upped their price target on Facebook from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Wedbush upped their price target on Facebook from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Credit Suisse Group upped their price target on Facebook from $322.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of Facebook in a report on Friday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $293.84.
Facebook Company Profile
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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