Hoylecohen LLC Has $13.30 Million Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Hoylecohen LLC lessened its holdings in Facebook, Inc. (NASDAQ:FB) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,583 shares of the social networking company’s stock after selling 1,369 shares during the period. Facebook makes up approximately 2.2% of Hoylecohen LLC’s portfolio, making the stock its 8th biggest holding. Hoylecohen LLC’s holdings in Facebook were worth $13,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Watson Rebecca purchased a new stake in shares of Facebook during the second quarter worth $25,000. JJJ Advisors Inc. increased its holdings in shares of Facebook by 262.5% in the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after purchasing an additional 105 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Facebook in the first quarter worth $41,000. Elmwood Wealth Management Inc. bought a new position in Facebook in the first quarter valued at $46,000. Finally, NuWave Investment Management LLC increased its stake in Facebook by 1,019.2% in the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock valued at $49,000 after acquiring an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 65.12% of the company’s stock.

A number of research analysts recently commented on FB shares. Robert W. Baird increased their target price on Facebook from $240.00 to $300.00 in a research note on Thursday, June 25th. Wedbush reissued an “outperform” rating and issued a $300.00 target price (up previously from $250.00) on shares of Facebook in a research note on Monday, July 27th. Oppenheimer restated a “buy” rating and set a $270.00 price target (up from $240.00) on shares of Facebook in a research report on Friday. BMO Capital Markets upped their price target on shares of Facebook from $220.00 to $225.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Pivotal Research upped their price target on shares of Facebook from $225.00 to $275.00 and gave the company a “hold” rating in a research report on Friday. One equities research 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 assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $273.37.

In other Facebook news, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $234.76, for a total value of $45,543.44. Following the completion of the sale, the vice president now owns 1,918 shares of the company’s stock, valued at approximately $450,269.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David M. Wehner sold 11,764 shares of Facebook stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $231.66, for a total transaction of $2,725,248.24. Following the completion of the sale, the chief financial officer now directly 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. In the last ninety days, insiders sold 68,591 shares of company stock valued at $14,894,825. 14.14% of the stock is currently owned by insiders.

Shares of FB opened at $253.67 on Friday. The company has a market capitalization of $668.11 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $235.27 and a 200 day moving average of $207.59. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $255.85.

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

About Facebook

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.

Featured Story: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.