The Addison Capital Co Reduces Stake in Facebook Inc. (FB)

The Addison Capital Co Reduces Stake in Facebook Inc. (FB)

Addison Capital Co reduced its position in shares of Facebook Inc. (NASDAQ:FB) by 58.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,790 shares of the social networking company’s stock after selling 3,866 shares during the period. Addison Capital Co’s holdings in Facebook were worth $358,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FB. Stelac Advisory Services LLC acquired a new position in shares of Facebook during the first quarter worth about $106,000. Bartlett & Co. LLC increased its position in shares of 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. Balentine LLC increased its position in shares of Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock worth $139,000 after buying an additional 1,015 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock worth $140,000 after buying an additional 18 shares during the period. Finally, West Oak Capital LLC increased its position in shares of Facebook by 53.3% in the third quarter. West Oak Capital LLC now owns 1,150 shares of the social networking company’s stock worth $148,000 after buying an additional 400 shares during the period. 56.67% of the stock is owned by institutional investors and hedge funds.

Facebook Inc. (NASDAQ:FB) traded down 0.38% during mid-day trading on Friday, hitting $120.38. The stock had a trading volume of 8,658,605 shares. The stock has a market cap of $346.96 billion, a P/E ratio of 46.41 and a beta of 0.76. The firm has a 50-day moving average of $125.27 and a 200-day moving average of $122.55. Facebook Inc. has a 52-week low of $89.37 and a 52-week high of $133.50.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, November 2nd. The social networking company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.90 billion. Facebook had a return on equity of 16.51% and a net margin of 30.32%. The firm’s quarterly revenue was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. On average, analysts forecast that Facebook Inc. will post $4.09 EPS for the current fiscal year.

Several research firms have recently weighed in on FB. Jefferies Group reiterated a “buy” rating and set a $170.00 price target on shares of Facebook in a research note on Thursday, November 3rd. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $136.45 price target for the company in a research note on Monday, September 12th. Axiom Securities increased their price target on Facebook from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 3rd. Citigroup Inc. increased their price target on Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Finally, Macquarie reiterated an “outperform” rating and set a $155.00 price target on shares of Facebook in a research note on Monday, October 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $150.70.

In other news, Director Jan Koum sold 356,547 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $119.95, for a total transaction of $42,767,812.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher K. Cox sold 15,600 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $125.56, for a total value of $1,958,736.00. Following the sale, the insider now directly owns 406,825 shares in the company, valued at approximately $51,080,947. The disclosure for this sale can be found here. 19.08% of the stock is owned by company insiders.

Facebook Company Profile

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.

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