Facebook, Inc. (NASDAQ:FB) Stock Position Cut by Lumbard & Kellner LLC

Lumbard & Kellner LLC reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,584 shares of the social networking company’s stock after selling 679 shares during the quarter. Facebook makes up about 3.5% of Lumbard & Kellner LLC’s holdings, making the stock its 5th biggest holding. Lumbard & Kellner LLC’s holdings in Facebook were worth $6,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Biltmore Capital Advisors LLC increased its stake in shares of Facebook by 1.2% during the second quarter. Biltmore Capital Advisors LLC now owns 3,366 shares of the social networking company’s stock valued at $764,000 after buying an additional 40 shares during the period. Strategic Wealth Management Group LLC grew its stake in Facebook by 0.5% in the second quarter. Strategic Wealth Management Group LLC now owns 9,152 shares of the social networking company’s stock valued at $2,078,000 after purchasing an additional 43 shares during the last quarter. Genesee Capital Advisors LLC grew its stake in Facebook by 1.6% in the second quarter. Genesee Capital Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $632,000 after purchasing an additional 44 shares during the last quarter. Parisi Gray Wealth Management grew its stake in Facebook by 0.5% in the second quarter. Parisi Gray Wealth Management now owns 9,175 shares of the social networking company’s stock valued at $2,087,000 after purchasing an additional 44 shares during the last quarter. Finally, Sun Life Financial INC grew its stake in Facebook by 3.4% in the first quarter. Sun Life Financial INC now owns 1,465 shares of the social networking company’s stock valued at $244,000 after purchasing an additional 48 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of Facebook stock traded up $6.27 on Tuesday, reaching $272.42. The company’s stock had a trading volume of 24,093,800 shares, compared to its average volume of 23,845,928. The company has a market capitalization of $758.21 billion, a P/E ratio of 33.25, a PEG ratio of 1.75 and a beta of 1.25. Facebook, Inc. has a 52-week low of $137.10 and a 52-week high of $304.67. The stock has a 50-day moving average price of $266.83 and a 200-day moving average price of $220.09.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. The business had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a return on equity of 22.90% and a net margin of 31.29%. Research analysts expect that Facebook, Inc. will post 8.06 earnings per share for the current year.

In related news, VP Jennifer Newstead sold 426 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $270.64, for a total transaction of $115,292.64. Following the completion of the sale, the vice president now directly owns 3,860 shares in the company, valued at $1,044,670.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO David B. Fischer sold 13,110 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $293.95, for a total value of $3,853,684.50. The disclosure for this sale can be found here. Insiders sold 32,669 shares of company stock valued at $9,039,215 over the last 90 days. Company insiders own 14.14% of the company’s stock.

Several equities analysts have issued reports on FB shares. Deutsche Bank lifted their target price on Facebook from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research note on Friday, June 12th. JMP Securities raised their price target on Facebook from $250.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. BofA Securities raised their price target on Facebook from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Argus raised their price target on Facebook from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and a consensus price target of $281.33.

Facebook Company Profile

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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