Cascade Investment Advisors Inc. trimmed its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 5.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,230 shares of the social networking company’s stock after selling 350 shares during the period. Facebook comprises approximately 1.4% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 11th biggest position. Cascade Investment Advisors Inc.’s holdings in Facebook were worth $1,632,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Watson Rebecca purchased a new stake in shares of Facebook during the second quarter valued at $25,000. JJJ Advisors Inc. raised its holdings in Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after buying an additional 105 shares during the period. Demars Financial Group LLC purchased a new stake in Facebook during the second quarter valued at about $39,000. Virtus Alternative Investment Advisers Inc. acquired a new position in shares of Facebook in the second quarter worth about $47,000. Finally, Center for Financial Planning Inc. boosted its holdings in shares of Facebook by 33.9% in the second quarter. Center for Financial Planning Inc. now owns 257 shares of the social networking company’s stock worth $58,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.
FB stock opened at $265.93 on Friday. The stock has a market capitalization of $757.59 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.29. The company has a 50-day moving average of $268.73 and a two-hundred day moving average of $234.17. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $304.67.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 22.90% and a net margin of 31.29%. The business had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. On average, equities analysts forecast that Facebook, Inc. will post 8.11 earnings per share for the current fiscal year.
Several brokerages recently commented on FB. Canaccord Genuity restated a “buy” rating and issued a $290.00 price target (up previously from $275.00) on shares of Facebook in a research report on Friday, July 31st. Oppenheimer raised their target price on Facebook from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Citigroup lifted their price target on Facebook from $275.00 to $315.00 and gave the company a “buy” rating in a report on Monday, August 24th. They noted that the move was a valuation call. Cfra downgraded Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, HSBC lifted their target price on Facebook from $190.00 to $195.00 and gave the company a “reduce” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $283.11.
In other news, CFO David M. Wehner sold 1,806 shares of the company’s stock in a transaction dated Saturday, August 15th. The shares were sold at an average price of $261.24, for a total transaction of $471,799.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Newstead sold 194 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total transaction of $47,766.68. Following the completion of the sale, the vice president now owns 2,112 shares of the company’s stock, valued at approximately $520,016.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,023 shares of company stock worth $9,420,337. Company insiders own 14.14% of the company’s stock.
Facebook Company Profile
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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