Kovack Advisors Inc. Lowers Holdings in Facebook, Inc. (FB)

Kovack Advisors Inc. lessened its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 12.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,129 shares of the social networking company’s stock after selling 3,793 shares during the quarter. Facebook makes up about 1.5% of Kovack Advisors Inc.’s portfolio, making the stock its 8th biggest holding. Kovack Advisors Inc.’s holdings in Facebook were worth $5,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Picton Mahoney Asset Management boosted its stake in Facebook by 108.6% during the 2nd quarter. Picton Mahoney Asset Management now owns 60,900 shares of the social networking company’s stock worth $11,833,000 after purchasing an additional 31,700 shares during the last quarter. Capital Investment Advisory Services LLC raised its holdings in shares of Facebook by 81.9% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 2,452 shares of the social networking company’s stock worth $476,000 after acquiring an additional 1,104 shares during the period. Israel Discount Bank of New York raised its holdings in shares of Facebook by 1,225.0% during the 2nd quarter. Israel Discount Bank of New York now owns 2,650 shares of the social networking company’s stock worth $515,000 after acquiring an additional 2,450 shares during the period. Arjuna Capital raised its holdings in shares of Facebook by 3.5% during the 2nd quarter. Arjuna Capital now owns 9,595 shares of the social networking company’s stock worth $1,865,000 after acquiring an additional 324 shares during the period. Finally, Trillium Asset Management LLC raised its holdings in shares of Facebook by 0.8% during the 2nd quarter. Trillium Asset Management LLC now owns 52,681 shares of the social networking company’s stock worth $10,237,000 after acquiring an additional 422 shares during the period. 60.30% of the stock is currently owned by institutional investors.

Several research firms have recently commented on FB. Nomura began coverage on Facebook in a report on Tuesday, July 10th. They set a “buy” rating and a $228.00 price target on the stock. Piper Jaffray Companies lifted their price target on Facebook to $250.00 and gave the stock an “in-line” rating in a report on Friday, July 20th. UBS Group lowered Facebook from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $212.00 to $180.00 in a report on Thursday, July 26th. Raymond James lowered Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price target on the stock. in a report on Thursday, July 26th. Finally, Cowen reduced their price target on Facebook from $235.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, July 26th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and a consensus target price of $195.56.

NASDAQ FB opened at $151.75 on Friday. The stock has a market capitalization of $424.77 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 0.93 and a beta of 0.42. Facebook, Inc. has a 1-year low of $139.03 and a 1-year high of $218.62.

Facebook (NASDAQ:FB) last released its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.30. The company had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a return on equity of 28.18% and a net margin of 37.57%. Facebook’s revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. Equities research analysts anticipate that Facebook, Inc. will post 7.06 earnings per share for the current year.

In other Facebook news, CEO Mark Zuckerberg sold 210,000 shares of Facebook stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $185.45, for a total value of $38,944,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Wehner sold 9,522 shares of Facebook stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $180.20, for a total value of $1,715,864.40. Following the completion of the transaction, the chief financial officer now directly owns 77,302 shares of the company’s stock, valued at $13,929,820.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,416,282 shares of company stock valued at $603,782,983. 17.23% of the stock is currently owned by corporate insiders.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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