Taylor Hoffman Wealth Management raised its position in Facebook, Inc. (NASDAQ:FB) by 19.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,620 shares of the social networking company’s stock after purchasing an additional 421 shares during the period. Taylor Hoffman Wealth Management’s holdings in Facebook were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Financial Advantage Inc. bought a new stake in shares of Facebook during the third quarter worth approximately $28,000. Cordasco Financial Network boosted 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 acquiring an additional 70 shares during the last quarter. Shamrock Asset Management LLC bought a new stake in Facebook during the second quarter valued at $38,000. Clean Yield Group bought a new stake in Facebook during the second quarter valued at $39,000. Finally, Litman Gregory Asset Management LLC bought a new stake in Facebook during the second quarter valued at $41,000. 63.17% of the stock is owned by hedge funds and other institutional investors.
FB traded up $0.42 on Friday, hitting $190.84. The company’s stock had a trading volume of 10,760,700 shares, compared to its average volume of 16,776,678. The firm has a market cap 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. The company’s 50 day simple moving average is $185.37 and its 200-day simple moving average is $187.27. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.09.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.21. The company had revenue of $17.65 billion for the quarter, compared to the consensus estimate of $17.35 billion. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The firm’s revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 EPS. Equities analysts predict that Facebook, Inc. will post 8.57 earnings per share for the current fiscal year.
In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $180.47, for a total transaction of $9,925,850.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 122,855 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $192.22, for a total transaction of $23,615,188.10. The disclosure for this sale can be found here. Insiders sold a total of 4,681,364 shares of company stock worth $867,172,511 in the last ninety days. 14.53% of the stock is currently owned by insiders.
A number of brokerages have commented on FB. Barclays cut their price target on shares of Facebook from $240.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Rosenblatt Securities set a $242.00 price objective on shares of Facebook and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Co set a $260.00 price objective on shares of Facebook and gave the company a “buy” rating in a research note on Friday, November 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $260.00) on shares of Facebook in a research note on Thursday, October 31st. Finally, Canaccord Genuity increased their price objective on shares of Facebook from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have assigned a buy rating to the company. Facebook has an average rating of “Buy” and an average target price of $228.33.
Facebook Company Profile
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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