SlateStone Wealth LLC Has $3.04 Million Holdings in Facebook, Inc. (NASDAQ:FB)

SlateStone Wealth LLC raised its stake in Facebook, Inc. (NASDAQ:FB) by 61.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,365 shares of the social networking company’s stock after acquiring an additional 5,075 shares during the quarter. SlateStone Wealth LLC’s holdings in Facebook were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. grew its position in shares of Facebook by 13.4% during the 4th quarter. Macquarie Group Ltd. now owns 736,299 shares of the social networking company’s stock worth $151,125,000 after buying an additional 87,024 shares during the period. IMS Capital Management grew its position in shares of Facebook by 7.4% during the 1st quarter. IMS Capital Management now owns 3,102 shares of the social networking company’s stock worth $517,000 after buying an additional 215 shares during the period. Fulton Bank N.A. grew its position in shares of Facebook by 0.3% during the 1st quarter. Fulton Bank N.A. now owns 63,945 shares of the social networking company’s stock worth $10,666,000 after buying an additional 221 shares during the period. Blackhawk Capital Partners LLC. grew its position in shares of Facebook by 5.2% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 12,136 shares of the social networking company’s stock worth $2,491,000 after buying an additional 603 shares during the period. Finally, Nexus Investment Management Inc. grew its position in shares of Facebook by 0.9% during the 1st quarter. Nexus Investment Management Inc. now owns 108,880 shares of the social networking company’s stock worth $18,161,000 after buying an additional 940 shares during the period. Hedge funds and other institutional investors own 65.12% of the company’s stock.

NASDAQ:FB opened at $253.67 on Friday. Facebook, Inc. has a one year low of $137.10 and a one year high of $255.85. The company has a market cap of $668.11 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.68 and a beta of 1.19. The firm’s fifty day moving average price is $235.27 and its two-hundred day moving average price is $207.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The firm had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. As a group, equities research analysts expect that Facebook, Inc. will post 7.36 earnings per share for the current year.

In related news, CFO David M. Wehner sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $209.90, for a total value of $1,679,200.00. Following the transaction, the chief financial officer now directly owns 24,484 shares in the company, valued at $5,139,191.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $234.76, for a total transaction of $45,543.44. Following the completion of the transaction, the vice president now owns 1,918 shares in the company, valued at $450,269.68. The disclosure for this sale can be found here. Insiders sold 68,591 shares of company stock worth $14,894,825 over the last 90 days. 14.14% of the stock is currently owned by corporate insiders.

Several brokerages have recently commented on FB. Robert W. Baird lifted their price target on shares of Facebook from $240.00 to $300.00 in a research report on Thursday, June 25th. Morgan Stanley boosted their price objective on shares of Facebook from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Pivotal Research boosted their price objective on shares of Facebook from $225.00 to $275.00 and gave the company a “hold” rating in a report on Friday. Finally, Loop Capital boosted their price objective on shares of Facebook from $215.00 to $265.00 in a report on Friday, May 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and an average target price of $273.37.

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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