Tower Bridge Advisors Boosts Holdings in Facebook, Inc. (FB)

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Tower Bridge Advisors raised its position in shares of Facebook, Inc. (NASDAQ:FB) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,304 shares of the social networking company’s stock after acquiring an additional 3,698 shares during the quarter. Tower Bridge Advisors’ holdings in Facebook were worth $7,780,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FB. Fundsmith Equity Fund L.P. bought a new stake in Facebook during the 2nd quarter valued at approximately $1,072,219,000. Cornerstone Wealth Management LLC lifted its holdings in shares of Facebook by 21,254.2% during the second quarter. Cornerstone Wealth Management LLC now owns 3,612,283 shares of the social networking company’s stock valued at $18,303,000 after purchasing an additional 3,595,367 shares during the last quarter. Chevy Chase Trust Holdings Inc. purchased a new position in shares of Facebook during the second quarter valued at approximately $394,967,000. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in shares of Facebook during the second quarter valued at approximately $326,144,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Facebook by 1,047.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,581,007 shares of the social networking company’s stock valued at $307,221,000 after purchasing an additional 1,443,234 shares during the last quarter. 58.14% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $160.00, for a total transaction of $120,000.00. Following the completion of the sale, the vice president now owns 92,394 shares of the company’s stock, valued at approximately $14,783,040. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Susan J.S. Taylor sold 2,112 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $137.50, for a total transaction of $290,400.00. Following the sale, the insider now directly owns 6,927 shares of the company’s stock, valued at approximately $952,462.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,850 shares of company stock valued at $60,909,341. Insiders own 16.25% of the company’s stock.

Shares of FB opened at $143.80 on Friday. The firm has a market cap of $418.99 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 0.92 and a beta of 0.58. Facebook, Inc. has a 1-year low of $123.02 and a 1-year high of $218.62.

Facebook (NASDAQ:FB) last announced its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The business had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the business earned $1.59 EPS. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. As a group, equities research analysts predict that Facebook, Inc. will post 7.37 earnings per share for the current year.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. DZ Bank lowered shares of Facebook from a “hold” rating to a “sell” rating and lowered their target price for the company from $145.00 to $115.00 in a report on Thursday, December 20th. Argus reiterated a “buy” rating on shares of Facebook in a report on Wednesday. Finally, Nomura restated a “neutral” rating and issued a $148.00 price objective on shares of Facebook in a report on Monday, January 7th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $186.92.

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About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

Further Reading: What is cost of equity?

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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