Deltec Asset Management LLC Decreases Holdings in Facebook, Inc. (NASDAQ:FB)

Deltec Asset Management LLC trimmed its position in Facebook, Inc. (NASDAQ:FB) by 9.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 71,097 shares of the social networking company’s stock after selling 7,500 shares during the period. Facebook comprises approximately 3.4% of Deltec Asset Management LLC’s holdings, making the stock its 6th largest holding. Deltec Asset Management LLC’s holdings in Facebook were worth $16,144,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Strategic Wealth Management Group LLC boosted its position in shares of Facebook by 0.5% in the 2nd quarter. Strategic Wealth Management Group LLC now owns 9,152 shares of the social networking company’s stock worth $2,078,000 after purchasing an additional 43 shares during the last quarter. Genesee Capital Advisors LLC boosted its position in shares of Facebook by 1.6% in the 2nd quarter. Genesee Capital Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $632,000 after purchasing an additional 44 shares during the last quarter. Parisi Gray Wealth Management boosted its position in shares of Facebook by 0.5% in the 2nd quarter. Parisi Gray Wealth Management now owns 9,175 shares of the social networking company’s stock worth $2,087,000 after purchasing an additional 44 shares during the last quarter. Retirement Network boosted its position in shares of Facebook by 1.4% in the 1st quarter. Retirement Network now owns 3,519 shares of the social networking company’s stock worth $587,000 after purchasing an additional 48 shares during the last quarter. Finally, Sun Life Financial INC boosted its position in shares of Facebook by 3.4% in the 1st quarter. Sun Life Financial INC now owns 1,465 shares of the social networking company’s stock worth $244,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.

Facebook stock opened at $253.67 on Friday. Facebook, Inc. has a 52 week low of $137.10 and a 52 week high of $255.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The stock has a market capitalization of $668.11 billion, a P/E ratio of 30.97, a PEG ratio of 1.68 and a beta of 1.19. The stock has a 50-day simple moving average of $235.27 and a 200 day simple moving average of $207.59.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.36. Facebook had a return on equity of 23.49% 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. Research analysts forecast that Facebook, Inc. will post 7.36 earnings per share for the current year.

Several brokerages recently commented on FB. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $300.00 price objective (up previously from $290.00) on shares of Facebook in a research note on Friday. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $236.00 price objective on the stock in a research note on Friday, June 12th. BidaskClub downgraded Facebook from a “buy” rating to a “hold” rating in a research note on Friday, July 24th. Pivotal Research raised their price objective on Facebook from $225.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Nomura raised their price objective on Facebook from $253.00 to $260.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $273.37.

In other news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total transaction of $45,543.44. Following the completion of the sale, the vice president now owns 1,918 shares in the company, valued at $450,269.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David M. Wehner sold 11,764 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $231.66, for a total value of $2,725,248.24. Following the sale, the chief financial officer now owns 19,412 shares of the company’s stock, valued at approximately $4,496,983.92. The disclosure for this sale can be found here. Insiders have sold 68,591 shares of company stock valued at $14,894,825 in the last quarter. 14.14% of the stock is currently owned by corporate 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.

Further Reading: How to calculate the intrinsic value of a stock

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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