McIlrath & Eck LLC Reduces Stock Holdings in Facebook, Inc. (NASDAQ:FB)

McIlrath & Eck LLC decreased its stake in Facebook, Inc. (NASDAQ:FB) by 15.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,484 shares of the social networking company’s stock after selling 271 shares during the quarter. McIlrath & Eck LLC’s holdings in Facebook were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Watch Point Trust Co lifted its stake in shares of Facebook by 432.9% during the 3rd quarter. Watch Point Trust Co now owns 14,942 shares of the social networking company’s stock worth $2,661,000 after acquiring an additional 12,138 shares during the last quarter. Brasada Capital Management LP lifted its stake in shares of Facebook by 37.5% during the 3rd quarter. Brasada Capital Management LP now owns 8,714 shares of the social networking company’s stock worth $1,551,000 after acquiring an additional 2,378 shares during the last quarter. Doliver Advisors LP raised its position in Facebook by 29.2% during the 3rd quarter. Doliver Advisors LP now owns 15,982 shares of the social networking company’s stock valued at $3,019,000 after purchasing an additional 3,613 shares in the last quarter. Lavaca Capital LLC bought a new stake in Facebook during the 3rd quarter valued at $527,000. Finally, Arthur M. Cohen & Associates LLC raised its position in Facebook by 3.2% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 10,563 shares of the social networking company’s stock valued at $1,881,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 63.17% of the company’s stock.

A number of equities research analysts have weighed in on the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $270.00 target price (up from $260.00) on shares of Facebook in a research report on Thursday, October 31st. Raymond James lifted their target price on Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. They noted that the move was a valuation call. UBS Group decreased their target price on Facebook from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Bank of America set a $224.00 target price on Facebook and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Wedbush decreased their target price on Facebook from $265.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and forty-one have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $228.33.

In other news, CRO David B. Fischer sold 5,562 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $196.60, for a total value of $1,093,489.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 76,484 shares of the company’s 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 have sold 4,681,364 shares of company stock valued at $867,172,511 in the last three months. Insiders own 14.53% of the company’s stock.

Facebook stock traded up $0.42 during trading hours on Friday, hitting $190.84. 10,760,700 shares of the stock traded hands, compared to its average volume of 16,776,678. The stock has a market capitalization of $554.39 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 1.10 and a beta of 1.05. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $208.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.66 and a quick ratio of 4.66. The firm’s 50 day moving average price is $185.37 and its 200-day moving average price is $187.27.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, beating 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 business had revenue of $17.65 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. Research analysts forecast that Facebook, Inc. will post 8.57 earnings per share for the current fiscal year.

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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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