WESPAC Advisors SoCal LLC Raises Stake in Facebook Inc (FB)

WESPAC Advisors SoCal LLC raised its holdings in shares of Facebook Inc (NASDAQ:FB) by 15.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,051 shares of the social networking company’s stock after acquiring an additional 1,640 shares during the quarter. Facebook makes up approximately 1.2% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 28th biggest position. WESPAC Advisors SoCal LLC’s holdings in Facebook were worth $2,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hartford Financial Management Inc. boosted its holdings 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 valued at $224,000 after buying an additional 16 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings 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 valued at $876,000 after buying an additional 18 shares during the last quarter. Halbert Hargrove Russell LLC lifted its holdings in Facebook by 0.5% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock valued at $526,000 after purchasing an additional 19 shares during the last quarter. Dumont & Blake Investment Advisors LLC lifted its holdings in Facebook by 2.1% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock valued at $222,000 after purchasing an additional 30 shares during the last quarter. Finally, Aspen Investment Management Inc lifted its holdings in Facebook by 0.4% during the 2nd quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock valued at $1,044,000 after purchasing an additional 30 shares during the last quarter. 57.75% of the stock is owned by institutional investors.

In other Facebook news, insider Michael Todd Schroepfer sold 38,017 shares of Facebook stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total value of $7,140,733.11. Following the transaction, the insider now owns 381,521 shares in the company, valued at $71,661,089.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $175.20, for a total value of $2,803,200.00. Following the completion of the transaction, the insider now owns 172,871 shares in the company, valued at approximately $30,286,999.20. The disclosure for this sale can be found here. Insiders sold 4,181,449 shares of company stock worth $752,592,962 in the last 90 days. 17.23% of the stock is owned by company insiders.

Facebook Inc (NASDAQ:FB) opened at $181.29 on Friday. Facebook Inc has a 12-month low of $126.78 and a 12-month high of $188.90. The company has a market capitalization of $526,793.94, a price-to-earnings ratio of 35.13, a P/E/G ratio of 1.03 and a beta of 0.68.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. During the same quarter last year, the business earned $1.09 earnings per share. Facebook’s revenue was up 47.3% on a year-over-year basis. equities analysts forecast that Facebook Inc will post 5.86 earnings per share for the current fiscal year.

FB has been the subject of several research reports. Cowen reaffirmed an “average” rating and set a $200.00 price target (up previously from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Deutsche Bank reaffirmed a “buy” rating and set a $220.00 price target (up previously from $215.00) on shares of Facebook in a report on Thursday, September 28th. Citigroup reaffirmed a “buy” rating and set a $200.00 price target on shares of Facebook in a report on Wednesday, September 27th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, three 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 a consensus rating of “Buy” and a consensus target price of $202.86.

COPYRIGHT VIOLATION WARNING: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/01/21/wespac-advisors-socal-llc-raises-stake-in-facebook-inc-fb.html.

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.

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook Inc (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply