Connecticut Wealth Management LLC Grows Position in Facebook Inc (FB)

Connecticut Wealth Management LLC grew its holdings in Facebook Inc (NASDAQ:FB) by 22.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,170 shares of the social networking company’s stock after buying an additional 400 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Facebook were worth $374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FB. Moisand Fitzgerald Tamayo LLC bought a new position in Facebook during the 3rd quarter valued at approximately $111,000. Mountain Capital Investment Advisors Inc bought a new position in Facebook during the 2nd quarter valued at approximately $138,000. Odey Holdings AG increased its position in Facebook by 5.4% during the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after buying an additional 54 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in Facebook during the 2nd quarter valued at approximately $165,000. Finally, Lenox Wealth Management Inc. increased its position in Facebook by 9.4% during the 2nd quarter. Lenox Wealth Management Inc. now owns 1,140 shares of the social networking company’s stock valued at $172,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 57.67% of the company’s stock.

In other Facebook news, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $179.63, for a total transaction of $2,874,080.00. Following the sale, the insider now directly owns 56,622 shares of the company’s stock, valued at $10,171,009.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jan Koum sold 594,246 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $179.35, for a total value of $106,578,020.10. The disclosure for this sale can be found here. Insiders sold 1,509,220 shares of company stock worth $271,586,498 over the last ninety days. Insiders own 17.23% of the company’s stock.

A number of research analysts recently weighed in on the company. Pivotal Research reaffirmed a “sell” rating and set a $152.00 price objective on shares of Facebook in a research report on Monday. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $210.11 target price for the company in a report on Monday, February 5th. Argus lifted their target price on Facebook from $215.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Mizuho lifted their target price on Facebook from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Goldman Sachs Group set a $225.00 target price on Facebook and gave the stock a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and a consensus price target of $214.70.

Shares of Facebook Inc (FB) traded down $1.65 during trading on Tuesday, hitting $174.76. The stock had a trading volume of 6,681,055 shares, compared to its average volume of 26,530,000. Facebook Inc has a fifty-two week low of $132.55 and a fifty-two week high of $195.32. The stock has a market capitalization of $506,820.00, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.24. Facebook had a return on equity of 26.49% and a net margin of 39.16%. The firm had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $12.58 billion. research analysts anticipate that Facebook Inc will post 7.22 earnings per share for the current year.

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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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