Meridian Wealth Management LLC Has $1.58 Million Holdings in Facebook, Inc. (NASDAQ:FB)

Meridian Wealth Management LLC lowered its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 6.2% in the 1st quarter, HoldingsChannel reports. The firm owned 9,468 shares of the social networking company’s stock after selling 624 shares during the period. Facebook comprises approximately 0.7% of Meridian Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Meridian Wealth Management LLC’s holdings in Facebook were worth $1,578,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FB. Sun Life Financial INC boosted its stake in Facebook by 0.9% during the fourth quarter. Sun Life Financial INC now owns 6,684 shares of the social networking company’s stock valued at $876,000 after buying an additional 60 shares during the last quarter. Valmark Advisers Inc. boosted its stake in Facebook by 3.5% during the fourth quarter. Valmark Advisers Inc. now owns 1,904 shares of the social networking company’s stock valued at $250,000 after buying an additional 65 shares during the last quarter. Titus Wealth Management boosted its stake in Facebook by 4.0% during the fourth quarter. Titus Wealth Management now owns 1,890 shares of the social networking company’s stock valued at $247,000 after buying an additional 73 shares during the last quarter. Versant Capital Management Inc boosted its stake in Facebook by 3.0% during the fourth quarter. Versant Capital Management Inc now owns 2,826 shares of the social networking company’s stock valued at $370,000 after buying an additional 82 shares during the last quarter. Finally, Glassman Wealth Services boosted its stake in Facebook by 4.1% during the fourth quarter. Glassman Wealth Services now owns 2,101 shares of the social networking company’s stock valued at $275,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 61.76% of the company’s stock.

A number of brokerages recently commented on FB. Royal Bank of Canada reissued a “buy” rating and set a $250.00 price target on shares of Facebook in a research note on Friday. Moffett Nathanson raised Facebook from a “neutral” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Tuesday, June 11th. BidaskClub lowered Facebook from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. China Renaissance Securities started coverage on Facebook in a research note on Wednesday, May 29th. They issued a “buy” rating and a $245.00 price objective for the company. Finally, Pivotal Research started coverage on Facebook in a research note on Wednesday, May 29th. They issued a “buy” rating and a $220.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and forty-two have given a buy rating to the company. Facebook presently has a consensus rating of “Buy” and a consensus target price of $210.44.

In other Facebook news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $161.50, for a total transaction of $121,125.00. Following the transaction, the vice president now directly owns 103,872 shares in the company, valued at approximately $16,775,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $164.34, for a total value of $9,038,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,551,104 shares of company stock worth $275,456,299 over the last 90 days. 14.53% of the stock is currently owned by company insiders.

Shares of NASDAQ FB traded up $3.86 during midday trading on Friday, hitting $181.33. The company’s stock had a trading volume of 16,706,472 shares, compared to its average volume of 16,089,314. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.38 and a current ratio of 5.38. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $218.62. The company has a market cap of $517.60 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.12 and a beta of 0.96.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.80). Facebook had a return on equity of 23.67% and a net margin of 33.17%. The business had revenue of $15.08 billion during the quarter, compared to analysts’ expectations of $14.97 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Sell-side analysts predict that Facebook, Inc. will post 8 earnings per share for the current year.

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About Facebook

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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