Successful Portfolios LLC Grows Position in Facebook, Inc. (NASDAQ:FB)

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Successful Portfolios LLC lifted its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 7.4% in the third quarter, HoldingsChannel.com reports. The firm owned 2,413 shares of the social networking company’s stock after acquiring an additional 166 shares during the quarter. Successful Portfolios LLC’s holdings in Facebook were worth $430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cordasco Financial Network boosted its holdings in Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 70 shares during the period. Shamrock Asset Management LLC purchased a new position in shares of Facebook in the 2nd quarter valued at about $38,000. Clean Yield Group purchased a new position in shares of Facebook in the 2nd quarter valued at about $39,000. Litman Gregory Asset Management LLC purchased a new position in shares of Facebook in the 2nd quarter valued at about $41,000. Finally, Spectrum Management Group Inc. boosted its stake in shares of Facebook by 135.3% in the 2nd quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock valued at $46,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 63.18% of the company’s stock.

Shares of FB stock traded up $4.27 during midday trading on Friday, hitting $184.30. The company had a trading volume of 1,637,747 shares, compared to its average volume of 13,372,172. The company’s 50 day simple moving average is $183.25 and its 200 day simple moving average is $185.07. Facebook, Inc. has a 52-week low of $123.02 and a 52-week high of $208.66. The stock has a market cap of $530.25 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.04 and a beta of 1.02. 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 earnings per share for the quarter, beating the 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 the consensus estimate of $16.49 billion. During the same period last year, the business posted $1.74 EPS. The company’s revenue was up 27.6% on a year-over-year basis. Analysts anticipate that Facebook, Inc. will post 7.99 EPS for the current year.

In related news, CAO Susan J.S. Taylor sold 1,134 shares of Facebook stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $185.45, for a total value of $210,300.30. Following the sale, the chief accounting officer now directly owns 1,037 shares in the company, valued at $192,311.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 76,484 shares of Facebook stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $175.34, for a total value of $13,410,704.56. The disclosure for this sale can be found here. Insiders sold a total of 3,604,556 shares of company stock worth $664,101,293 over the last quarter. Company insiders own 14.53% of the company’s stock.

Several equities analysts have recently issued reports on FB shares. Susquehanna Bancshares lifted their price objective on Facebook from $225.00 to $245.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $240.00 price objective on shares of Facebook in a research note on Thursday, July 25th. Summit Redstone started coverage on Facebook in a research note on Friday, September 27th. They issued a “buy” rating for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $260.00 price objective on shares of Facebook in a research note on Thursday, July 25th. Finally, Mizuho lifted their price objective on Facebook from $230.00 to $247.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-three have issued a buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus target price of $220.81.

About Facebook

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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