Tower Bridge Advisors Grows Holdings in Facebook, Inc. (FB)

Tower Bridge Advisors raised its stake in shares of Facebook, Inc. (NASDAQ:FB) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 47,304 shares of the social networking company’s stock after acquiring an additional 3,698 shares during the period. Tower Bridge Advisors’ holdings in Facebook were worth $7,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its position in shares of Facebook by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 8,774,424 shares of the social networking company’s stock valued at $1,705,047,000 after buying an additional 337,909 shares in the last quarter. First American Bank purchased a new stake in shares of Facebook during the 3rd quarter valued at about $6,317,000. Montrusco Bolton Investments Inc. raised its position in shares of Facebook by 14.0% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 106,851 shares of the social networking company’s stock valued at $17,525,000 after buying an additional 13,124 shares in the last quarter. TIAA FSB raised its position in shares of Facebook by 14.2% during the 2nd quarter. TIAA FSB now owns 130,181 shares of the social networking company’s stock valued at $25,297,000 after buying an additional 16,212 shares in the last quarter. Finally, HT Partners LLC purchased a new stake in shares of Facebook during the 2nd quarter valued at about $297,000. 58.14% of the stock is owned by institutional investors and hedge funds.

Shares of FB stock opened at $143.80 on Friday. The stock has a market capitalization of $418.99 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 0.92 and a beta of 0.58. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62.

Facebook (NASDAQ:FB) last issued its earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The business had revenue of $13.73 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the firm earned $1.59 EPS. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Facebook, Inc. will post 7.37 earnings per share for the current fiscal year.

In other news, insider Susan J.S. Taylor sold 2,112 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $137.50, for a total transaction of $290,400.00. Following the transaction, the insider now directly owns 6,927 shares in the company, valued at $952,462.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $160.00, for a total transaction of $120,000.00. Following the transaction, the vice president now owns 92,394 shares in the company, valued at $14,783,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 431,850 shares of company stock worth $60,909,341. Insiders own 16.25% of the company’s stock.

Several brokerages have recently issued reports on FB. Zacks Investment Research cut shares of Facebook from a “buy” rating to a “hold” rating in a research report on Thursday. Argus restated a “buy” rating on shares of Facebook in a research report on Wednesday. JPMorgan Chase & Co. reissued a “buy” rating and issued a $195.00 price objective on shares of Facebook in a research report on Tuesday. Nomura reissued a “neutral” rating and issued a $148.00 price objective on shares of Facebook in a research report on Monday, January 7th. Finally, BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a research report on Saturday, January 5th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and a consensus target price of $186.92.

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Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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