Facebook Inc. (FB) Stake Reduced by Boston Advisors LLC
Boston Advisors LLC reduced its stake in shares of Facebook Inc. (NASDAQ:FB) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580,710 shares of the social networking company’s stock after selling 39,258 shares during the period. Facebook comprises approximately 1.7% of Boston Advisors LLC’s portfolio, making the stock its 5th largest position. Boston Advisors LLC’s holdings in Facebook were worth $66,364,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Hartwell J M Limited Partnership raised its stake in shares of Facebook by 1.5% in the first quarter. Hartwell J M Limited Partnership now owns 287,865 shares of the social networking company’s stock valued at $32,845,000 after buying an additional 4,275 shares in the last quarter. Vicus Capital increased its position in shares of Facebook by 12.2% in the first quarter. Vicus Capital now owns 4,004 shares of the social networking company’s stock valued at $457,000 after buying an additional 436 shares during the last quarter. Forte Capital LLC ADV acquired a new position in shares of Facebook during the first quarter valued at about $263,000. Quantitative Systematic Strategies LLC increased its position in shares of Facebook by 112.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 7,094 shares of the social networking company’s stock valued at $814,000 after buying an additional 3,759 shares during the last quarter. Finally, First Manhattan Co. increased its position in shares of Facebook by 28.8% in the first quarter. First Manhattan Co. now owns 27,527 shares of the social networking company’s stock valued at $3,140,000 after buying an additional 6,148 shares during the last quarter. 56.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Facebook Inc. (NASDAQ:FB) traded up 0.19% during midday trading on Friday, reaching $128.99. 12,804,420 shares of the company’s stock were exchanged. Facebook Inc. has a one year low of $89.37 and a one year high of $131.98. The stock has a market cap of $370.42 billion, a price-to-earnings ratio of 61.66 and a beta of 0.77. The firm has a 50 day moving average of $127.57 and a 200-day moving average of $119.71.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The firm earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 59.2% compared to the same quarter last year. On average, equities research analysts anticipate that Facebook Inc. will post $3.94 earnings per share for the current year.
Several equities analysts have issued reports on FB shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $165.00 price objective on shares of Facebook in a research report on Tuesday, June 21st. Bank of America Corp. restated a “buy” rating and set a $153.07 target price (up previously from $123.94) on shares of Facebook in a research report on Monday, August 1st. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $121.02 target price for the company in a research report on Monday, June 13th. Goldman Sachs Group Inc. boosted their target price on Facebook from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, William Blair restated an “outperform” rating on shares of Facebook in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, forty-four have issued a buy rating and two have issued a strong buy rating to the company. Facebook presently has an average rating of “Buy” and an average target price of $149.99.
In other Facebook news, VP David B. Fischer sold 35,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $128.78, for a total value of $4,507,300.00. Following the completion of the sale, the vice president now directly owns 169,686 shares of the company’s stock, valued at approximately $21,852,163.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jan Koum sold 566,668 shares of the business’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $128.22, for a total transaction of $72,658,170.96. The disclosure for this sale can be found here. Corporate insiders own 19.08% of the company’s stock.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook Inc. (NASDAQ:FB).
Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.