Stoneridge Investment Partners LLC cut its stake in Facebook, Inc. (NASDAQ:FB) by 10.1% in the fourth quarter, Holdings Channel reports. The fund owned 41,820 shares of the social networking company’s stock after selling 4,700 shares during the period. Stoneridge Investment Partners LLC’s holdings in Facebook were worth $7,380,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Huber Financial Advisors LLC acquired a new stake in shares of Facebook during the 4th quarter worth about $594,000. Bray Capital Advisors increased its position in shares of Facebook by 2.6% during the 4th quarter. Bray Capital Advisors now owns 24,802 shares of the social networking company’s stock worth $4,377,000 after purchasing an additional 625 shares during the last quarter. LA Financiere DE L Echiquier increased its position in shares of Facebook by 4.5% during the 4th quarter. LA Financiere DE L Echiquier now owns 95,185 shares of the social networking company’s stock worth $16,796,000 after purchasing an additional 4,065 shares during the last quarter. Professional Advisory Services Inc. increased its position in shares of Facebook by 7.0% during the 4th quarter. Professional Advisory Services Inc. now owns 98,743 shares of the social networking company’s stock worth $17,424,000 after purchasing an additional 6,444 shares during the last quarter. Finally, Washington Trust Bank increased its position in shares of Facebook by 1.7% during the 4th quarter. Washington Trust Bank now owns 63,141 shares of the social networking company’s stock worth $11,142,000 after purchasing an additional 1,073 shares during the last quarter. 58.55% of the stock is owned by institutional investors and hedge funds.
Shares of FB opened at $159.69 on Wednesday. The stock has a market capitalization of $483,043.41, a PE ratio of 25.92, a P/E/G ratio of 0.91 and a beta of 0.80. Facebook, Inc. has a 1 year low of $144.42 and a 1 year high of $195.32.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.24. The business had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. sell-side analysts expect that Facebook, Inc. will post 7.11 earnings per share for the current fiscal year.
In other news, CEO Mark Zuckerberg sold 1,636 shares of the firm’s stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $164.46, for a total transaction of $269,056.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David B. Fischer sold 5,587 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $187.66, for a total value of $1,048,456.42. The disclosure for this sale can be found here. Insiders have sold a total of 8,061,678 shares of company stock worth $1,400,894,923 in the last three months. Corporate insiders own 16.25% of the company’s stock.
A number of analysts recently issued reports on the company. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 price objective for the company in a research report on Wednesday, January 10th. BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. Aegis raised their price objective on Facebook from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Citigroup restated a “buy” rating and set a $220.00 target price on shares of Facebook in a report on Thursday, February 1st. They noted that the move was a valuation call. Finally, JMP Securities set a $235.00 target price on Facebook and gave the company a “buy” rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and an average target price of $209.18.
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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.
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