Facebook, Inc. (NASDAQ:FB) Shares Sold by Sterling Investment Management Inc.

Sterling Investment Management Inc. lowered its stake in shares of Facebook, Inc. (NASDAQ:FB) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,919 shares of the social networking company’s stock after selling 679 shares during the period. Sterling Investment Management Inc.’s holdings in Facebook were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sowa Financial Group Inc. purchased a new stake in shares of Facebook in the fourth quarter valued at about $42,000. FSA Wealth Management LLC purchased a new stake in shares of Facebook in the fourth quarter valued at about $44,000. HHM Wealth Advisors LLC purchased a new position in shares of Facebook during the first quarter valued at approximately $41,000. Lionsbridge Wealth Management LLC purchased a new position in shares of Facebook during the fourth quarter valued at approximately $54,000. Finally, Elmwood Wealth Management Inc. purchased a new position in shares of Facebook during the first quarter valued at approximately $46,000. 65.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FB stock opened at $239.73 on Wednesday. The stock has a 50-day moving average of $233.02 and a 200-day moving average of $205.27. Facebook, Inc. has a one year low of $137.10 and a one year high of $250.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. The stock has a market cap of $683.02 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, April 29th. The social networking company reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.07). Facebook had a return on equity of 21.54% and a net margin of 28.57%. The business had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.25 billion. During the same period in the previous year, the company posted $1.89 earnings per share. Facebook’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts anticipate that Facebook, Inc. will post 7.25 earnings per share for the current year.

Several equities analysts recently commented on FB shares. Goldman Sachs Group set a $265.00 price target on shares of Facebook and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Pivotal Research raised shares of Facebook from a “sell” rating to a “hold” rating and increased their price objective for the stock from $167.00 to $225.00 in a research report on Thursday, April 30th. TheStreet raised shares of Facebook from a “c+” rating to a “b” rating in a research report on Thursday, April 30th. Canaccord Genuity increased their price objective on shares of Facebook from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Citigroup raised their price target on shares of Facebook from $245.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and forty-two have assigned a buy rating to the company. Facebook has an average rating of “Buy” and an average price target of $250.83.

In related news, CRO David B. Fischer sold 22,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $205.29, for a total value of $4,516,380.00. Following the sale, the executive now owns 57,503 shares in the company, valued at approximately $11,804,790.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Newstead sold 970 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $207.75, for a total value of $201,517.50. Following the completion of the sale, the vice president now owns 600 shares in the company, valued at approximately $124,650. The disclosure for this sale can be found here. In the last three months, insiders sold 69,173 shares of company stock valued at $14,992,413. 14.14% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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