HighPoint Advisor Group LLC trimmed its position in Facebook, Inc. (NASDAQ:FB) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,444 shares of the social networking company’s stock after selling 331 shares during the period. HighPoint Advisor Group LLC’s holdings in Facebook were worth $2,545,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Facebook by 30.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 106,446 shares of the social networking company’s stock worth $20,684,000 after purchasing an additional 25,050 shares in the last quarter. LVM Capital Management Ltd. MI bought a new position in Facebook in the 2nd quarter worth about $225,000. Grassi Investment Management bought a new position in Facebook in the 2nd quarter worth about $1,361,000. Cobiz Wealth LLC bought a new position in Facebook in the 2nd quarter worth about $11,553,000. Finally, State of Alaska Department of Revenue boosted its stake in Facebook by 26.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 345,716 shares of the social networking company’s stock worth $67,178,000 after purchasing an additional 71,969 shares in the last quarter. Hedge funds and other institutional investors own 58.14% of the company’s stock.
NASDAQ FB opened at $143.80 on Monday. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $218.62. The stock has a market cap of $418.99 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ 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 27.89% and a net margin of 37.57%. The firm’s revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. As a group, sell-side analysts expect that Facebook, Inc. will post 7.37 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Facebook from a “buy” rating to a “hold” rating in a research note on Thursday. Argus reissued a “buy” rating on shares of Facebook in a research report on Wednesday, January 9th. Nomura reissued a “neutral” rating and issued a $148.00 target price on shares of Facebook in a research report on Monday, January 7th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $195.00 target price on shares of Facebook in a research report on Tuesday, January 8th. Finally, BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus price target of $186.92.
In other Facebook news, insider Susan J.S. Taylor sold 2,112 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $137.50, for a total value of $290,400.00. Following the completion of the transaction, the insider now directly owns 6,927 shares in the company, valued at approximately $952,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Wehner sold 4,761 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $141.10, for a total value of $671,777.10. Following the completion of the transaction, the chief financial officer now owns 76,830 shares of the company’s stock, valued at $10,840,713. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 426,550 shares of company stock valued at $60,096,109. 16.25% of the stock is currently owned by corporate insiders.
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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