Geneva Advisors LLC Sells 7,130 Shares of Facebook, Inc. (FB)
Geneva Advisors LLC trimmed its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,159,919 shares of the social networking company’s stock after selling 7,130 shares during the quarter. Facebook comprises about 3.0% of Geneva Advisors LLC’s holdings, making the stock its 2nd largest position. Geneva Advisors LLC’s holdings in Facebook were worth $175,125,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the stock. Sitrin Capital Management LLC grew its position in Facebook by 1.9% during the second quarter. Sitrin Capital Management LLC now owns 42,375 shares of the social networking company’s stock worth $6,398,000 after buying an additional 801 shares in the last quarter. RFG Advisory Group LLC boosted its holdings in shares of Facebook by 85.5% in the 2nd quarter. RFG Advisory Group LLC now owns 13,363 shares of the social networking company’s stock worth $2,036,000 after purchasing an additional 6,158 shares in the last quarter. Provident Trust Co. boosted its holdings in shares of Facebook by 6.9% in the 2nd quarter. Provident Trust Co. now owns 1,932 shares of the social networking company’s stock worth $292,000 after purchasing an additional 124 shares in the last quarter. ProVise Management Group LLC boosted its holdings in shares of Facebook by 1.1% in the 2nd quarter. ProVise Management Group LLC now owns 22,138 shares of the social networking company’s stock worth $3,342,000 after purchasing an additional 239 shares in the last quarter. Finally, Aviva PLC boosted its holdings in shares of Facebook by 6.1% in the 2nd quarter. Aviva PLC now owns 1,654,042 shares of the social networking company’s stock worth $249,727,000 after purchasing an additional 94,623 shares in the last quarter. Institutional investors and hedge funds own 57.35% of the company’s stock.
Facebook, Inc. (NASDAQ FB) opened at $179.59 on Friday. Facebook, Inc. has a 52-week low of $114.00 and a 52-week high of $182.90. The firm has a market capitalization of $517,088.53, a P/E ratio of 34.29, a P/E/G ratio of 1.14 and a beta of 0.67.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. equities analysts predict that Facebook, Inc. will post 5.81 earnings per share for the current year.
In other Facebook news, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $168.25, for a total transaction of $126,187.50. Following the sale, the vice president now directly owns 96,341 shares in the company, valued at approximately $16,209,373.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David B. Fischer sold 16,298 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $168.88, for a total value of $2,752,406.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,762,164 shares of company stock valued at $1,015,885,901. 19.08% of the stock is owned by corporate insiders.
A number of research firms have recently issued reports on FB. Jefferies Group LLC reiterated a “buy” rating and issued a $192.00 price objective (up from $175.00) on shares of Facebook in a report on Thursday, July 27th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $180.74 price objective for the company in a report on Monday, September 25th. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 price objective (up from $190.00) on shares of Facebook in a report on Monday, October 2nd. Atlantic Securities set a $200.00 price objective on Facebook and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Pivotal Research reiterated a “sell” rating and issued a $140.00 price objective on shares of Facebook in a report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $197.95.
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Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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