Landmark Bank bought a new position in shares of Facebook, Inc. (NASDAQ:FB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,643 shares of the social networking company’s stock, valued at approximately $3,622,000. Facebook makes up approximately 2.3% of Landmark Bank’s investment portfolio, making the stock its 10th largest holding.
A number of other large investors have also recently made changes to their positions in the stock. Cribstone Capital Management LLC increased its holdings in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after buying an additional 406 shares in the last quarter. IMA Wealth Inc. bought a new position in shares of Facebook in the second quarter valued at $122,000. Trust Department MB Financial Bank N A bought a new position in shares of Facebook in the second quarter valued at $134,000. Northwest Wealth Management LLC bought a new position in shares of Facebook in the second quarter valued at $194,000. Finally, AJ Wealth Strategies LLC bought a new position in shares of Facebook in the second quarter valued at $216,000. 60.25% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on FB shares. Raymond James cut Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price target on the stock. in a report on Thursday, July 26th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $195.00 price target on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $202.00 price target on shares of Facebook in a report on Thursday, August 23rd. JPMorgan Chase & Co. upped their price target on Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, September 18th. Finally, MKM Partners dropped their price target on Facebook to $230.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $194.54.
In related news, CEO Mark Zuckerberg sold 210,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $185.45, for a total value of $38,944,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher K. Cox sold 3,300 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $150.09, for a total transaction of $495,297.00. Following the completion of the sale, the insider now owns 115,837 shares of the company’s stock, valued at $17,385,975.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,201,582 shares of company stock worth $564,369,020. 16.25% of the stock is currently owned by corporate insiders.
Facebook stock opened at $148.68 on Tuesday. Facebook, Inc. has a 12 month low of $139.03 and a 12 month high of $218.62. The firm has a market cap of $436.77 billion, a PE ratio of 24.14, a P/E/G ratio of 0.92 and a beta of 0.55.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating the 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 business had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same period in the previous year, the company posted $1.59 EPS. Facebook’s revenue was up 32.9% on a year-over-year basis. As a group, sell-side analysts predict that Facebook, Inc. will post 7.3 earnings per share for the current year.
Facebook Company Profile
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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