Johnston Asset Management LLC cut its stake in Facebook Inc. (NASDAQ:FB) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 125,180 shares of the social networking company’s stock after selling 7,100 shares during the period. Johnston Asset Management LLC’s holdings in Facebook were worth $14,306,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of FB. Stelac Advisory Services LLC acquired a new stake in Facebook during the first quarter worth about $106,000. Bartlett & Co. LLC raised its stake in Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares during the period. Kings Point Capital Management raised its stake in Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares during the period. Gradient Investments LLC raised its stake in Facebook by 25.2% in the second quarter. Gradient Investments LLC now owns 1,365 shares of the social networking company’s stock worth $156,000 after buying an additional 275 shares during the period. Finally, Duncker Streett & Co. Inc. raised its stake in Facebook by 75.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,400 shares of the social networking company’s stock worth $160,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 56.61% of the company’s stock.
Facebook Inc. (NASDAQ:FB) traded up 0.05% during midday trading on Friday, hitting $127.88. The stock had a trading volume of 13,345,292 shares. The firm has a market capitalization of $367.23 billion, a price-to-earnings ratio of 61.13 and a beta of 0.77. The firm has a 50-day moving average price of $128.26 and a 200-day moving average price of $120.22. Facebook Inc. has a 1-year low of $89.37 and a 1-year high of $131.98.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.15. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6 billion. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The business’s quarterly revenue was up 59.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. On average, equities research analysts anticipate that Facebook Inc. will post $3.94 earnings per share for the current year.
FB has been the topic of a number of research reports. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $136.45 target price on the stock in a report on Monday, September 12th. Societe Generale set a $80.00 target price on shares of Facebook and gave the stock a “sell” rating in a report on Thursday, July 7th. Robert W. Baird upgraded shares of Facebook to a “buy” rating in a report on Monday, July 18th. Citigroup Inc. increased their target price on shares of Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Finally, Macquarie reiterated an “outperform” rating and set a $155.00 target price on shares of Facebook in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $149.99.
In other Facebook news, Director Jan Koum sold 602,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $129.36, for a total transaction of $77,889,467.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sheryl Sandberg sold 148,104 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $118.02, for a total value of $17,479,234.08. Following the transaction, the chief operating officer now directly owns 4,719,188 shares in the company, valued at approximately $556,958,567.76. The disclosure for this sale can be found here. 19.08% of the stock is owned by company insiders.
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.