Facebook, Inc. (NASDAQ:FB) is Bowling Portfolio Management LLC’s 5th Largest Position

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Bowling Portfolio Management LLC reduced its position in shares of Facebook, Inc. (NASDAQ:FB) by 22.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,611 shares of the social networking company’s stock after selling 10,497 shares during the period. Facebook comprises about 2.1% of Bowling Portfolio Management LLC’s holdings, making the stock its 5th largest holding. Bowling Portfolio Management LLC’s holdings in Facebook were worth $9,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Watson Rebecca acquired a new stake in shares of Facebook in the second quarter valued at $25,000. JJJ Advisors Inc. raised its stake 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 valued at $33,000 after acquiring an additional 105 shares in the last quarter. Demars Financial Group LLC acquired a new stake in shares of Facebook in the second quarter valued at $39,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of Facebook in the second quarter valued at $47,000. Finally, Center for Financial Planning Inc. raised its stake in shares of Facebook by 33.9% in the second quarter. Center for Financial Planning Inc. now owns 257 shares of the social networking company’s stock valued at $58,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

NASDAQ:FB traded down $0.79 during trading hours on Friday, hitting $265.93. The company’s stock had a trading volume of 16,622,702 shares, compared to its average volume of 23,501,252. The business’s 50-day moving average is $268.73 and its two-hundred day moving average is $234.17. The company has a market capitalization of $757.59 billion, a PE ratio of 32.47, a PEG ratio of 1.80 and a beta of 1.29. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $304.67.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The firm had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. On average, research analysts anticipate that Facebook, Inc. will post 8.11 EPS for the current fiscal year.

FB has been the topic of several analyst reports. Citigroup increased their price objective on Facebook from $275.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, August 24th. They noted that the move was a valuation call. Mizuho increased their price objective on Facebook from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Credit Suisse Group raised their price target on Facebook from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. BofA Securities raised their price target on Facebook from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, JMP Securities raised their price target on Facebook from $250.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Facebook presently has a consensus rating of “Buy” and a consensus target price of $283.11.

In other Facebook news, CTO Michael Todd Schroepfer sold 112 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $262.09, for a total value of $29,354.08. Following the sale, the chief technology officer now owns 498,238 shares of the company’s stock, valued at $130,583,197.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction 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 directly owns 1,918 shares in the company, valued at approximately $450,269.68. The disclosure for this sale can be found here. Insiders sold 34,023 shares of company stock valued at $9,420,337 in the last quarter. 14.14% of the stock is currently owned by company insiders.

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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