Principle Wealth Partners LLC grew its holdings in Facebook, Inc. (NASDAQ:FB) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,397 shares of the social networking company’s stock after purchasing 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).
Several other large investors have also made changes to their positions in the company. Financial Advantage Inc. bought a new stake in Facebook during the 3rd quarter worth approximately $28,000. Cordasco Financial Network increased its holdings in Facebook by 70.0% during 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 bought a new stake in Facebook during the 2nd quarter worth approximately $38,000. Clean Yield Group bought a new stake in Facebook during the 2nd quarter worth approximately $39,000. Finally, Litman Gregory Asset Management LLC bought a new stake in Facebook during the 2nd quarter worth approximately $41,000. 63.17% of the stock is currently owned by institutional investors.
FB has been the subject of several recent analyst reports. Summit Redstone initiated coverage on Facebook in a report on Friday, September 27th. They issued a “buy” rating for the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $255.00 price objective on shares of Facebook in a research note on Thursday, October 31st. Goldman Sachs Group set a $231.00 price objective on Facebook and gave the company a “buy” rating in a research note on Wednesday, October 30th. ValuEngine downgraded Facebook from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, SunTrust Banks upped their price objective on Facebook from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Two research 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 currently has an average rating of “Buy” and an average price target of $228.33.
Facebook (NASDAQ:FB) last issued its quarterly earnings data 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. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The business had revenue of $17.65 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the business posted $1.76 earnings per share. Facebook’s quarterly revenue was up 28.6% compared to the same quarter last year. Equities research analysts forecast that Facebook, Inc. will post 8.57 EPS for the current fiscal year.
In other news, CAO Susan J.S. Taylor sold 1,134 shares of Facebook stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,037 shares in the company, valued at $192,311.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 76,484 shares of Facebook stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $175.34, for a total transaction of $13,410,704.56. The disclosure for this sale can be found here. Insiders sold 4,681,364 shares of company stock valued at $867,172,511 over the last 90 days. 14.53% of the stock is currently owned by company 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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