Welch & Forbes LLC Decreases Stake in Facebook, Inc. (NASDAQ:FB)

Welch & Forbes LLC decreased its position in Facebook, Inc. (NASDAQ:FB) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,766 shares of the social networking company’s stock after selling 2,359 shares during the period. Welch & Forbes LLC’s holdings in Facebook were worth $35,575,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cordasco Financial Network boosted its holdings in Facebook by 70.0% in the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares during the period. Shamrock Asset Management LLC bought a new position in Facebook in the 2nd quarter valued at $38,000. Clean Yield Group bought a new stake in shares of Facebook during the 2nd quarter worth $39,000. Litman Gregory Asset Management LLC bought a new stake in shares of Facebook during the 2nd quarter worth $41,000. Finally, Spectrum Management Group Inc. lifted its holdings in shares of Facebook by 135.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock worth $46,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 63.18% of the company’s stock.

In related news, CAO Susan J.S. Taylor sold 1,134 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total transaction of $210,300.30. Following the transaction, the chief accounting officer now owns 1,037 shares in the company, valued at $192,311.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Thiel sold 22,246 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $182.00, for a total transaction of $4,048,772.00. Following the transaction, the director now owns 9,948 shares in the company, valued at approximately $1,810,536. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,604,556 shares of company stock worth $664,101,293. 14.53% of the stock is owned by insiders.

A number of equities analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Facebook from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets decreased their target price on shares of Facebook to $195.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. Nomura lifted their target price on shares of Facebook from $226.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Credit Suisse Group lifted their target price on shares of Facebook from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity lifted their target price on shares of Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $220.81.

Shares of NASDAQ FB traded up $5.89 during midday trading on Friday, hitting $185.92. The stock had a trading volume of 10,730,148 shares, compared to its average volume of 13,372,172. The business’s 50 day moving average is $183.25 and its 200-day moving average is $185.07. The company has a market cap of $528.57 billion, a P/E ratio of 24.56, a PEG ratio of 1.04 and a beta of 1.02. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $208.66. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.09. The firm had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The business’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 earnings per share. As a group, analysts expect that Facebook, Inc. will post 7.99 EPS for the current fiscal year.

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Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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