Lowe Brockenbrough & Co. Inc. trimmed its holdings in Facebook, Inc. (NASDAQ:FB) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 47,559 shares of the social networking company’s stock after selling 406 shares during the period. Facebook accounts for 1.5% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 13th biggest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Facebook were worth $12,456,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Rocky Mountain Advisers LLC purchased a new stake in Facebook in the third quarter valued at $26,000. Watson Rebecca purchased a new stake in Facebook in the second quarter valued at $25,000. Carolina Wealth Advisors LLC raised its position in shares of Facebook by 58.2% in the third quarter. Carolina Wealth Advisors LLC now owns 144 shares of the social networking company’s stock worth $38,000 after acquiring an additional 53 shares during the period. JJJ Advisors Inc. raised its position 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 acquiring an additional 105 shares during the period. Finally, Newfound Research LLC acquired a new position in shares of Facebook in the third quarter worth about $40,000. 65.31% of the stock is currently owned by institutional investors.
In related news, CRO David B. Fischer sold 13,110 shares of Facebook stock in a transaction on Monday, August 31st. The shares were sold at an average price of $293.95, for a total transaction of $3,853,684.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $251.57, for a total transaction of $48,804.58. Following the sale, the vice president now owns 1,724 shares in the company, valued at $433,706.68. The disclosure for this sale can be found here. Insiders have sold a total of 34,487 shares of company stock worth $9,557,944 over the last quarter. 14.14% of the stock is owned by company insiders.
Shares of FB opened at $280.83 on Friday. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $304.67. The firm’s fifty day simple moving average is $264.88 and its 200-day simple moving average is $241.45. The firm has a market capitalization of $800.03 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 1.71 and a beta of 1.29.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.80. Facebook had a net margin of 31.29% and a return on equity of 22.90%. The business had revenue of $21.47 billion for the quarter, compared to analyst estimates of $19.78 billion. During the same period last year, the business earned $2.12 EPS. The company’s revenue was up 21.6% on a year-over-year basis. Equities research analysts expect that Facebook, Inc. will post 8.12 EPS for the current year.
FB has been the subject of a number of analyst reports. 140166 upped their price objective on shares of Facebook from $285.00 to $310.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Morgan Stanley increased their price objective on shares of Facebook from $285.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, September 18th. Pivotal Research increased 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, July 31st. SunTrust Banks reiterated a “buy” rating and issued a $285.00 price objective (up previously from $245.00) on shares of Facebook in a report on Friday, July 31st. Finally, Jefferies Financial Group increased their price target on shares of Facebook from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $284.28.
Facebook Company Profile
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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