Hochman Cole Investment Advisors Inc. lowered its position in shares of Facebook, Inc. (NASDAQ:FB) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,248 shares of the social networking company’s stock after selling 141 shares during the quarter. Hochman Cole Investment Advisors Inc.’s holdings in Facebook were worth $589,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in FB. State Street Corp boosted its position in Facebook by 1.2% during 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 acquiring an additional 1,132,053 shares during the last quarter. Morgan Stanley boosted its position in Facebook by 2.4% during the 1st quarter. Morgan Stanley now owns 17,661,522 shares of the social networking company’s stock worth $2,945,942,000 after acquiring an additional 412,559 shares during the last quarter. AXA boosted its position in Facebook by 4.0% during the 1st quarter. AXA now owns 1,201,556 shares of the social networking company’s stock worth $200,420,000 after acquiring an additional 46,185 shares during the last quarter. Optimal Asset Management Inc. raised its stake in shares of Facebook by 66.0% during the 1st quarter. Optimal Asset Management Inc. now owns 5,820 shares of the social networking company’s stock worth $971,000 after purchasing an additional 2,313 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Facebook during the 2nd quarter worth approximately $217,000. 65.31% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on FB. Rosenblatt Securities upped their price objective on Facebook from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Needham & Company LLC began coverage on Facebook in a research note on Thursday, July 2nd. They set a “hold” rating on the stock. 140166 upped their price objective on Facebook from $285.00 to $310.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. UBS Group upped their price objective on Facebook from $242.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Finally, Oppenheimer upped their price objective on Facebook from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 22nd. One investment 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 given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $283.50.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 22.90% and a net margin of 31.29%. The firm had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. As a group, equities research analysts expect that Facebook, Inc. will post 8.12 earnings per share for the current year.
In related news, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total transaction of $45,543.44. Following the transaction, the vice president now owns 1,918 shares of the company’s stock, valued at $450,269.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO David B. Fischer sold 13,110 shares of Facebook stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $293.95, for a total value of $3,853,684.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,255 shares of company stock worth $9,484,634. 14.14% of the stock is owned by insiders.
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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