ProVise Management Group LLC Lowers Stock Position in Facebook, Inc. (NASDAQ:FB)

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ProVise Management Group LLC lessened its holdings in Facebook, Inc. (NASDAQ:FB) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,039 shares of the social networking company’s stock after selling 392 shares during the period. ProVise Management Group LLC’s holdings in Facebook were worth $3,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FB. State Street Corp lifted its position in shares of Facebook by 1.2% in the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after purchasing an additional 1,132,053 shares during the period. Morgan Stanley lifted its position in shares of Facebook by 2.4% in the 1st quarter. Morgan Stanley now owns 17,661,522 shares of the social networking company’s stock worth $2,945,942,000 after purchasing an additional 412,559 shares during the period. AXA lifted its position in shares of Facebook by 4.0% in the 1st quarter. AXA now owns 1,201,556 shares of the social networking company’s stock worth $200,420,000 after purchasing an additional 46,185 shares during the period. Modus Advisors LLC purchased a new stake in Facebook during the second quarter valued at approximately $217,000. Finally, Thomasville National Bank lifted its position in Facebook by 4.5% during the second quarter. Thomasville National Bank now owns 2,779 shares of the social networking company’s stock valued at $631,000 after acquiring an additional 119 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.

FB stock opened at $280.83 on Friday. The business’s fifty day moving average price is $264.88 and its 200 day moving average price is $241.45. Facebook, Inc. has a 12-month low of $137.10 and a 12-month high of $304.67. The company has a market capitalization of $800.03 billion, a PE ratio of 34.29, a P/E/G ratio of 1.71 and a beta of 1.29.

Facebook (NASDAQ:FB) last released its earnings results on Thursday, October 29th. The social networking company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.80. The company had revenue of $21.47 billion during the quarter, compared to the consensus estimate of $19.78 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. Facebook’s revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 EPS. Sell-side analysts expect that Facebook, Inc. will post 8.12 EPS for the current fiscal year.

In other Facebook news, VP Jennifer Newstead sold 426 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $279.00, for a total transaction of $118,854.00. Following the sale, the vice president now directly owns 878 shares in the company, valued at $244,962. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO David B. Fischer sold 13,110 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $293.95, for a total transaction of $3,853,684.50. The disclosure for this sale can be found here. Insiders have sold 34,487 shares of company stock worth $9,557,944 over the last quarter. Insiders own 14.14% of the company’s stock.

A number of equities research analysts recently commented on FB shares. BMO Capital Markets increased their target price on shares of Facebook from $220.00 to $225.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Tigress Financial reissued a “buy” rating on shares of Facebook in a research report on Tuesday, September 1st. Credit Suisse Group increased their target price on shares of Facebook from $315.00 to $322.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Facebook from $305.00 to $325.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Bank of America increased their target price on shares of Facebook from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock 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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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