McIlrath & Eck LLC reduced its stake in Facebook, Inc. (NASDAQ:FB) by 15.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,484 shares of the social networking company’s stock after selling 271 shares during the period. McIlrath & Eck LLC’s holdings in Facebook were worth $264,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in FB. Boltwood Capital Management lifted its holdings in Facebook by 1.0% in the second quarter. Boltwood Capital Management now owns 6,758 shares of the social networking company’s stock valued at $1,304,000 after acquiring an additional 65 shares during the period. Park National Corp OH lifted its holdings in Facebook by 0.7% in the second quarter. Park National Corp OH now owns 202,943 shares of the social networking company’s stock valued at $39,168,000 after acquiring an additional 1,427 shares during the period. Private Trust Co. NA raised its stake in shares of Facebook by 2.1% in the second quarter. Private Trust Co. NA now owns 19,146 shares of the social networking company’s stock worth $3,695,000 after buying an additional 387 shares during the period. Baystate Wealth Management LLC raised its stake in shares of Facebook by 19.8% in the second quarter. Baystate Wealth Management LLC now owns 4,432 shares of the social networking company’s stock worth $855,000 after buying an additional 734 shares during the period. Finally, Private Asset Management Inc. bought a new position in shares of Facebook in the second quarter worth about $212,000. Institutional investors and hedge funds own 63.17% of the company’s stock.
Several research analysts have recently commented on the company. Morgan Stanley raised their price objective on Facebook from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Barclays decreased their price objective on Facebook from $240.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Rosenblatt Securities set a $242.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JMP Securities raised their price objective on Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank raised their price objective on Facebook from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $228.33.
NASDAQ FB traded up $0.42 during trading on Friday, hitting $190.84. 10,760,700 shares of the stock traded hands, compared to its average volume of 16,776,678. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $185.37 and a 200-day simple moving average of $187.27. The company has a market capitalization of $554.39 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $208.66.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, October 30th. The social networking company reported $2.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.21. The business had revenue of $17.65 billion during the quarter, compared to analyst estimates of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. Facebook’s revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. As a group, research analysts predict that Facebook, Inc. will post 8.57 EPS for the current fiscal year.
In other news, CEO Mark Zuckerberg sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $181.95, for a total value of $1,364,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Thiel sold 22,246 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $182.00, for a total value of $4,048,772.00. Following the completion of the transaction, the director now directly owns 9,948 shares of the company’s stock, valued at $1,810,536. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,681,364 shares of company stock valued at $867,172,511. 14.53% 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. 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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