Prestige Wealth Management Group LLC Trims Stake in Facebook, Inc. (NASDAQ:FB)

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Prestige Wealth Management Group LLC reduced its position in Facebook, Inc. (NASDAQ:FB) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,066 shares of the social networking company’s stock after selling 42 shares during the period. Prestige Wealth Management Group LLC’s holdings in Facebook were worth $1,589,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Watson Rebecca purchased a new stake in shares of Facebook in the 2nd quarter valued at about $25,000. Rocky Mountain Advisers LLC purchased a new stake in Facebook during the 3rd quarter valued at approximately $26,000. JJJ Advisors Inc. raised its stake in Facebook by 262.5% during the 2nd 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 during the last quarter. Carolina Wealth Advisors LLC raised its stake in Facebook by 58.2% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 144 shares of the social networking company’s stock valued at $38,000 after acquiring an additional 53 shares during the last quarter. Finally, Demars Financial Group LLC purchased a new stake in Facebook during the 2nd quarter valued at approximately $39,000. 65.31% of the stock is owned by institutional investors and hedge funds.

Shares of Facebook stock traded down $7.68 during trading hours on Monday, hitting $277.11. 21,288,203 shares of the company’s stock traded hands, compared to its average volume of 23,384,955. The company has a market cap of $811.31 billion, a PE ratio of 33.68, a PEG ratio of 1.71 and a beta of 1.29. Facebook, Inc. has a twelve month low of $137.10 and a twelve month high of $304.67. The stock has a 50 day simple moving average of $265.10 and a 200-day simple moving average of $238.00.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.36. The business had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. As a group, sell-side analysts anticipate that Facebook, Inc. will post 8.12 EPS for the current fiscal year.

In other Facebook news, CRO David B. Fischer sold 13,110 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $293.95, for a total value of $3,853,684.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jennifer Newstead sold 426 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $263.06, for a total transaction of $112,063.56. Following the completion of the transaction, the vice president now directly owns 1,304 shares in the company, valued at approximately $343,030.24. The disclosure for this sale can be found here. Insiders sold 34,255 shares of company stock valued at $9,484,634 over the last quarter. Insiders own 14.14% of the company’s stock.

Several analysts have commented on FB shares. Bank of America upped their price objective on Facebook from $265.00 to $290.00 and gave the company a “buy” 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 company a “buy” rating in a research note on Tuesday, August 25th. Morgan Stanley boosted their target price on Facebook from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Oppenheimer boosted their target price on Facebook from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Finally, Needham & Company LLC started coverage on Facebook in a research report on Thursday, July 2nd. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $284.07.

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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