BlackRock Fund Advisors recently announced the acquisition of new stake in Facebook Inc. (NASDAQ:FB). The institutional investor has increased its shareholding in the Communication Services company by 1.56% to 107.74 million shares with purchase of 1.65 million shares. This fresh investment now brings its stake to 4.48% valued currently at $27.33 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 1.45 million to 96.9 million shares. And Capital Research & Management Co.. has lifted its position by 0.19% or 0.1 million shares – to 51.68 million shares.
With over 17.26 million Facebook Inc. (FB) shares trading Monday and a closing price of $293.20 on the day, the dollar volume was approximately $5.06 billion. The shares have shown a positive weekly performance of 8.04% and its price on 08/31/20 lost nearly -0.16%. Currently, there are 2.85B common shares owned by the public and among those 2.39B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 48 analysts who have offered their price forecasts for FB have a consensus price objective of $284.96. The analysts have set the share’s price value over the next 12 months at a high of $330.00 and a low of $120.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Facebook Inc. stock is 1.80 for the next 12 months. The average price target is -3.15% below its last price level and a downside to the estimated low will see the stock lose -144.33% over that period. But an upside of 11.15% will see the stock hit the forecast high price target while mean target price for the stock is $295.00.
Insiders at the company have transacted a total of 1207 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 189 of these insider trades were purchases, accounting for 2,618,938 shares. Insider sales of the common stock occurred on 1,018 occasions, with total insider shares sold totaling 7,872,976 shares.
The top 3 mutual fund holders in Facebook Inc. are Vanguard Total Stock Market Index, American Funds Growth Fund of Ame, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 68.34 million shares of the company’s stock, all valued at over $17.34 billion. The company sold -0.19 million shares recently to bring their total holdings to about 2.84% of the shares outstanding. American Funds Growth Fund of Ame sold -1.62 million shares to see its total holdings shrink to 52.36 million shares valued at over $13.28 billion and representing 2.17% of the shares outstanding. Vanguard 500 Index Fund sold -0.3 million shares to bring its total holdings to over 49.59 million shares at a value of $12.58 billion. Vanguard 500 Index Fund now owns shares totaling to 2.06% of the shares outstanding.
Shares of Facebook Inc. (NASDAQ: FB) opened at $293.95, up $0.29 from a prior closing price of $293.66. However, the script later closed the day at $293.20, down -0.16%. The company’s stock has a 5-day price change of 8.04% and 25.99% over the past three months. FB shares are trading 42.85% year to date (YTD), with the 12-month market performance up to 57.91% higher. It has a 12-month low price of $137.10 and touched a high of $304.67 over the same period. Currently, 17.26 million shares have been traded, compared to an average intraday trading volume of 25.32 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.58%, 17.58%, and 37.91% respectively.
Institutional ownership of Facebook Inc. (NASDAQ: FB) shares accounts for 80.10% of the company’s 2.85B shares outstanding. Mutual fund holders own 33.17%, while other institutional holders and individual stakeholders account for 46.47% and 2.30% respectively.
It has a market capitalization of $834.02B and a beta (3y monthly) value of 1.26. The stock’s trailing 12-month PE ratio is 37.41, while the earnings-per-share (ttm) stands at $7.84. The company has a PEG of 2.19 and a Quick Ratio of 6.00 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.83% over the week and 3.25% over the month.
Analysts forecast that Facebook Inc. (FB) will achieve an EPS of $1.87 for the current quarter, $2.63 for the next quarter and $10.13 for 2021. The lowest estimate earnings-per-share for the quarter is $1.55 while analysts give the company a high EPS estimate of $2.09. Comparatively, EPS for the current quarter was $2.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -15.10%, and 26.92% over the next financial year. EPS should shrink at an annualized rate of 17.05% over the next five years, compared to 42.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 48 brokerage firm advisors rate Facebook Inc. (FB) as a “Strong Buy” at a consensus score of 1.80. Specifically, 37 Wall Street analysts polled rate the stock as a buy, while 6 of the 48 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the FB, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on August 25, 2020, with the firm’s price target at $242-$330. Argus coverage for the Facebook Inc. (FB) stock in a research note released on August 04, 2020 offered a Buy rating with a price target of $300. Wedbush was of a view on July 31, 2020 that the stock is Outperform, while Susquehanna gave the stock Positive rating on July 31, 2020, issuing a price target of $285- $310. SunTrust on their part issued Buy rating on July 31, 2020.