Principle Wealth Partners LLC Raises Position in Facebook, Inc. (NASDAQ:FB)

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Principle Wealth Partners LLC raised its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,397 shares of the social networking company’s stock after acquiring an additional 300 shares during the quarter. Principle Wealth Partners LLC’s holdings in Facebook were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Financial Advantage Inc. purchased a new stake in Facebook in the 3rd quarter worth $28,000. Cordasco Financial Network lifted its stake in Facebook by 70.0% in the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after purchasing an additional 70 shares in the last quarter. Shamrock Asset Management LLC purchased a new stake in Facebook in the 2nd quarter worth $38,000. Clean Yield Group purchased a new stake in Facebook in the 2nd quarter worth $39,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in Facebook in the 2nd quarter worth $41,000. Institutional investors and hedge funds own 63.17% of the company’s stock.

NASDAQ:FB traded up $0.42 during mid-day 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’s 50 day moving average is $185.37 and its two-hundred day moving average is $187.27. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $208.66. The stock has a market capitalization of $554.39 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.10 and a beta of 1.05.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.21. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The company had revenue of $17.65 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. The firm’s revenue was up 28.6% compared to the same quarter last year. As a group, research analysts predict that Facebook, Inc. will post 8.57 EPS for the current year.

In related news, CAO Susan J.S. Taylor sold 1,134 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total transaction of $210,300.30. Following the completion of the sale, the chief accounting officer now directly owns 1,037 shares of the company’s stock, valued at approximately $192,311.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO David B. Fischer sold 12,267 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $184.12, for a total transaction of $2,258,600.04. Following the sale, the executive now directly owns 48,970 shares of the company’s stock, valued at $9,016,356.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,681,364 shares of company stock worth $867,172,511. Corporate insiders own 14.53% of the company’s stock.

Several brokerages have commented on FB. Oppenheimer boosted their price target on shares of Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. SunTrust Banks boosted their price target on shares of Facebook from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Monness Crespi & Hardt boosted their price target on shares of Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and issued a $250.00 target price on shares of Facebook in a report on Thursday, October 31st. Finally, Guggenheim restated a “hold” rating on shares of Facebook in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have issued a buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and a consensus target price of $228.33.

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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