Frontier Wealth Management LLC Increases Stake in Facebook Inc (FB)

Frontier Wealth Management LLC grew its holdings in shares of Facebook Inc (NASDAQ:FB) by 10.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,292 shares of the social networking company’s stock after buying an additional 4,992 shares during the period. Facebook accounts for approximately 1.2% of Frontier Wealth Management LLC’s holdings, making the stock its 16th biggest position. Frontier Wealth Management LLC’s holdings in Facebook were worth $7,744,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FB. Hartford Financial Management Inc. raised its position in shares of Facebook by 1.1% in the 2nd quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock worth $224,000 after purchasing an additional 16 shares during the last quarter. Regal Investment Advisors LLC raised its position in shares of Facebook by 0.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock worth $876,000 after purchasing an additional 18 shares during the last quarter. Halbert Hargrove Russell LLC raised its position in shares of Facebook by 0.5% in the 2nd quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock worth $526,000 after purchasing an additional 19 shares during the last quarter. Wagner Bowman Management Corp raised its position in shares of Facebook by 0.5% in the 2nd quarter. Wagner Bowman Management Corp now owns 4,997 shares of the social networking company’s stock worth $754,000 after purchasing an additional 25 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC raised its position in shares of Facebook by 2.1% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock worth $222,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 57.86% of the company’s stock.

FB has been the subject of several recent analyst reports. SunTrust Banks initiated coverage on Facebook in a research report on Tuesday, August 15th. They issued a “buy” rating and a $210.00 price target for the company. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a research report on Monday, August 21st. Robert W. Baird reaffirmed a “buy” rating and issued a $185.00 price target on shares of Facebook in a research report on Friday, September 1st. Pivotal Research reaffirmed a “sell” rating and issued a $140.00 price target on shares of Facebook in a research report on Wednesday, September 6th. Finally, Mizuho reaffirmed a “buy” rating and issued a $230.00 price target on shares of Facebook in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $200.73.

Shares of Facebook Inc (FB) opened at $179.00 on Monday. Facebook Inc has a 52-week low of $114.77 and a 52-week high of $184.25. The company has a market cap of $520,139.66, a PE ratio of 34.49, a PEG ratio of 1.14 and a beta of 0.69.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. analysts predict that Facebook Inc will post 5.86 earnings per share for the current year.

In related news, Director Peter Thiel sold 160,805 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $178.90, for a total transaction of $28,768,014.50. Following the completion of the transaction, the director now directly owns 6,311 shares in the company, valued at approximately $1,129,037.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Todd Schroepfer sold 38,055 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $172.60, for a total value of $6,568,293.00. Following the transaction, the insider now owns 533,937 shares of the company’s stock, valued at $92,157,526.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,932,625 shares of company stock valued at $879,469,497 in the last ninety days. Insiders own 17.23% of the company’s stock.

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About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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