TRUE Private Wealth Advisors reduced its position in Facebook, Inc. (NASDAQ:FB) by 38.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,480 shares of the social networking company’s stock after selling 5,371 shares during the period. TRUE Private Wealth Advisors’ holdings in Facebook were worth $1,636,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Cordasco Financial Network raised its position in Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares during the period. Whitnell & Co. purchased a new stake in Facebook during the fourth quarter valued at approximately $26,000. Clean Yield Group bought a new position in shares of Facebook during the second quarter valued at approximately $39,000. Litman Gregory Asset Management LLC bought a new position in shares of Facebook during the second quarter valued at approximately $41,000. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Facebook during the second quarter valued at approximately $52,000. Institutional investors own 62.11% of the company’s stock.
NASDAQ:FB traded up $1.11 during midday trading on Friday, hitting $183.70. The stock had a trading volume of 12,654,600 shares, compared to its average volume of 17,575,930. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The company has a market capitalization of $524.09 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.05 and a beta of 0.99. The stock has a 50-day moving average of $194.93 and a 200 day moving average of $180.55. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.09. The company had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. Facebook’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share. On average, sell-side analysts anticipate that Facebook, Inc. will post 7.96 earnings per share for the current fiscal year.
A number of research firms have recently commented on FB. MKM Partners reaffirmed a “buy” rating and set a $245.00 target price (up previously from $190.00) on shares of Facebook in a research note on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Facebook in a research note on Monday, July 22nd. Susquehanna Bancshares upped their target price on Facebook from $225.00 to $245.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. SunTrust Banks reaffirmed a “buy” rating and set a $215.00 target price on shares of Facebook in a research note on Tuesday, July 23rd. Finally, Cowen reaffirmed an “outperform” rating and set a $225.00 target price (up previously from $195.00) on shares of Facebook in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $220.92.
In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $181.62, for a total transaction of $9,989,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan J.S. Taylor sold 1,472 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $181.89, for a total value of $267,742.08. Following the sale, the insider now owns 569 shares of the company’s stock, valued at approximately $103,495.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 863,283 shares of company stock valued at $160,819,836. 14.53% of the stock is owned by company 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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