C J Advisory Inc Boosts Stake in Facebook, Inc. (NASDAQ:FB)
C J Advisory Inc grew its stake in Facebook, Inc. (NASDAQ:FB) by 4,097.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,052 shares of the social networking company’s stock after buying an additional 6,884 shares during the period. Facebook accounts for 0.8% of C J Advisory Inc’s holdings, making the stock its 21st biggest position. C J Advisory Inc’s holdings in Facebook were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cordasco Financial Network raised its holdings in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after purchasing an additional 70 shares during the last quarter. Shamrock Asset Management LLC purchased a new position in shares of Facebook during the second quarter worth $38,000. Clean Yield Group purchased a new position in shares of Facebook during the second quarter worth $39,000. Litman Gregory Asset Management LLC purchased a new position in shares of Facebook during the second quarter worth $41,000. Finally, Spectrum Management Group Inc. raised its holdings in shares of Facebook by 135.3% during the second quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock worth $46,000 after purchasing an additional 138 shares during the last quarter. 63.18% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on FB. JPMorgan Chase & Co. raised their target price on shares of Facebook from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Facebook in a report on Monday, July 22nd. Mizuho raised their target price on shares of Facebook from $230.00 to $247.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Raymond James raised their target price on shares of Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. They noted that the move was a valuation call. Finally, JMP Securities raised their target price on shares of Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and forty-three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $220.81.
Shares of NASDAQ:FB traded up $2.11 during midday trading on Wednesday, hitting $179.86. The company’s stock had a trading volume of 4,286,333 shares, compared to its average volume of 13,908,851. The business’s 50 day simple moving average is $183.47 and its 200 day simple moving average is $184.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.47 and a current ratio of 4.47. The company has a market cap of $512.53 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $208.66.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The firm had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. On average, sell-side analysts predict that Facebook, Inc. will post 7.99 earnings per share for the current fiscal year.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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