Valmark Advisers Inc. grew its position in Facebook, Inc. (NASDAQ:FB) by 32.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,496 shares of the social networking company’s stock after acquiring an additional 607 shares during the quarter. Valmark Advisers Inc.’s holdings in Facebook were worth $444,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. WT Wealth Management bought a new position in shares of Facebook during the 3rd quarter worth approximately $716,000. First Allied Advisory Services Inc. raised its position in Facebook by 3.9% in the 3rd quarter. First Allied Advisory Services Inc. now owns 78,491 shares of the social networking company’s stock valued at $13,985,000 after purchasing an additional 2,926 shares during the last quarter. Lyell Wealth Management LP raised its position in Facebook by 0.8% in the 3rd quarter. Lyell Wealth Management LP now owns 40,104 shares of the social networking company’s stock valued at $7,142,000 after purchasing an additional 314 shares during the last quarter. Cetera Advisor Networks LLC raised its position in Facebook by 4.4% in the 3rd quarter. Cetera Advisor Networks LLC now owns 48,588 shares of the social networking company’s stock valued at $8,657,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Facebook by 0.7% in the 3rd quarter. Checchi Capital Advisers LLC now owns 20,231 shares of the social networking company’s stock valued at $3,603,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 63.17% of the company’s stock.
Shares of Facebook stock traded up $1.63 during trading on Friday, reaching $194.78. 668,978 shares of the company were exchanged, compared to its average volume of 15,265,997. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.09. Facebook, Inc. has a twelve month low of $123.02 and a twelve month high of $208.66. The business has a 50-day moving average price of $185.87 and a 200-day moving average price of $187.49. The firm has a market capitalization of $554.58 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.10 and a beta of 1.05.
Several equities analysts have issued reports on the company. Summit Insights assumed coverage on Facebook in a research report on Friday, September 27th. They issued a “buy” rating for the company. Pivotal Research reiterated a “buy” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Facebook in a research report on Thursday, July 25th. SunTrust Banks lifted their price objective on Facebook from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating and issued a $250.00 price objective on shares of Facebook in a research report on Thursday, October 31st. Finally, DZ Bank reiterated a “buy” rating on shares of Facebook in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $228.33.
In other Facebook news, CEO Mark Zuckerberg sold 118,100 shares of Facebook stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $22,555,919.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Susan J.S. Taylor sold 1,134 shares of Facebook stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $185.45, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,373,541 shares of company stock valued at $811,538,392. 14.53% of the stock is owned by insiders.
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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