Wells Trecaso Financial Group LLC trimmed its position in Facebook, Inc. (NASDAQ:FB) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,630 shares of the social networking company’s stock after selling 57 shares during the quarter. Wells Trecaso Financial Group LLC’s holdings in Facebook were worth $700,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Diligent Investors LLC grew its holdings in shares of Facebook by 20.8% during the fourth quarter. Diligent Investors LLC now owns 5,414 shares of the social networking company’s stock valued at $710,000 after buying an additional 932 shares during the last quarter. KCS Wealth Advisory boosted its stake in Facebook by 55.8% during the 4th quarter. KCS Wealth Advisory now owns 5,111 shares of the social networking company’s stock valued at $670,000 after purchasing an additional 1,830 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Facebook by 13.4% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 8,840 shares of the social networking company’s stock valued at $1,159,000 after purchasing an additional 1,045 shares during the last quarter. BLB&B Advisors LLC boosted its stake in Facebook by 84.0% during the 4th quarter. BLB&B Advisors LLC now owns 23,816 shares of the social networking company’s stock valued at $3,122,000 after purchasing an additional 10,873 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its stake in Facebook by 29.3% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 44,774 shares of the social networking company’s stock valued at $5,869,000 after purchasing an additional 10,141 shares during the last quarter. Institutional investors and hedge funds own 61.84% of the company’s stock.
Facebook stock traded down $3.71 during trading on Friday, reaching $189.02. The company had a trading volume of 15,284,654 shares, compared to its average volume of 15,877,616. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $208.66. The business’s 50-day moving average is $195.36. The stock has a market capitalization of $554.43 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same period last year, the firm earned $1.74 EPS. Facebook’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, sell-side analysts forecast that Facebook, Inc. will post 7.96 EPS for the current year.
Several analysts have commented on FB shares. Monness Crespi & Hardt increased their target price on Facebook from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BidaskClub downgraded Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday. KeyCorp increased their target price on Facebook from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Cleveland Research reiterated a “buy” rating on shares of Facebook in a research note on Monday, April 22nd. Finally, DZ Bank upgraded Facebook from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $220.92.
In other Facebook news, CRO David B. Fischer sold 5,501 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $196.84, for a total transaction of $1,082,816.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $175.82, for a total value of $9,670,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,793 shares of company stock worth $67,585,618. 14.53% of the stock is owned by insiders.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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