Rainey & Randall Investment Management Inc. purchased a new stake in Facebook, Inc. (NASDAQ:FB) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,468 shares of the social networking company’s stock, valued at approximately $788,000. Facebook makes up 0.7% of Rainey & Randall Investment Management Inc.’s holdings, making the stock its 23rd biggest holding.
Several other institutional investors also recently added to or reduced their stakes in FB. Santori & Peters Inc. acquired a new position in Facebook during the fourth quarter worth $116,000. Navellier & Associates Inc boosted its holdings in Facebook by 16.6% during the fourth quarter. Navellier & Associates Inc now owns 2,805 shares of the social networking company’s stock worth $495,000 after purchasing an additional 400 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in Facebook by 13.0% during the fourth quarter. Johnson Financial Group Inc. now owns 19,824 shares of the social networking company’s stock worth $3,498,000 after purchasing an additional 2,284 shares during the last quarter. Allen Capital Group LLC acquired a new position in Facebook during the fourth quarter worth $257,000. Finally, Mutual Advisors LLC acquired a new position in Facebook during the fourth quarter worth $1,755,000. Institutional investors own 59.34% of the company’s stock.
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In related news, CEO Mark Zuckerberg sold 677,000 shares of the firm’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $184.43, for a total transaction of $124,859,110.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jan Koum sold 10,695 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $187.01, for a total transaction of $2,000,071.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,119,208 shares of company stock worth $2,142,892,497. 17.23% of the stock is owned by insiders.
A number of brokerages have commented on FB. Morningstar set a $198.00 price target on shares of Facebook and gave the company a “neutral” rating in a research note on Thursday, May 3rd. Goldman Sachs Group set a $225.00 price target on shares of Facebook and gave the company a “buy” rating in a research note on Wednesday, May 2nd. ValuEngine upgraded shares of Facebook from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Tigress Financial reiterated a “buy” rating on shares of Facebook in a research note on Monday, April 30th. Finally, Argus increased their price target on shares of Facebook from $214.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $217.37.
Shares of Facebook opened at $186.90 on Thursday, according to MarketBeat.com. The stock has a market capitalization of $533.94 billion, a PE ratio of 30.34, a P/E/G ratio of 0.99 and a beta of 0.78. Facebook, Inc. has a fifty-two week low of $144.56 and a fifty-two week high of $195.32.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, April 25th. The social networking company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.44. Facebook had a net margin of 40.03% and a return on equity of 27.74%. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $11.41 billion. During the same period last year, the firm earned $1.04 earnings per share. Facebook’s revenue for the quarter was up 49.0% compared to the same quarter last year. sell-side analysts predict that Facebook, Inc. will post 7.64 EPS for the current fiscal year.
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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