Stralem & Co. Inc. Trims Stock Position in Facebook, Inc. (NASDAQ:FB)

Stralem & Co. Inc. lessened its stake in Facebook, Inc. (NASDAQ:FB) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,935 shares of the social networking company’s stock after selling 9,350 shares during the period. Facebook comprises about 3.6% of Stralem & Co. Inc.’s portfolio, making the stock its 4th biggest position. Stralem & Co. Inc.’s holdings in Facebook were worth $6,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whitnell & Co. bought a new stake in shares of Facebook during the 4th quarter valued at about $26,000. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Facebook during the 4th quarter valued at about $31,000. Cordasco Financial Network boosted its position in shares of Facebook by 70.0% during 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 in the last quarter. Signet Investment Advisory Group Inc. bought a new stake in shares of Facebook during the 4th quarter valued at about $39,000. Finally, Ruggie Capital Group boosted its position in shares of Facebook by 53.8% during the 4th quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock valued at $58,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 61.84% of the company’s stock.

A number of research firms have issued reports on FB. Loop Capital increased their price target on Facebook from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley increased their target price on shares of Facebook from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird increased their target price on shares of Facebook from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Raymond James increased their target price on shares of Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $220.92.

Shares of FB stock traded down $3.71 during trading hours on Friday, reaching $189.02. The company had a trading volume of 15,284,654 shares, compared to its average volume of 15,877,616. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $208.66. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $195.36. The company has a market capitalization of $554.43 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.99.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The business had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same period last year, the business earned $1.74 EPS. The business’s revenue was up 27.6% on a year-over-year basis. As a group, equities research analysts predict that Facebook, Inc. will post 7.96 earnings per share for the current year.

In other news, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $181.10, for a total transaction of $9,960,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO David B. Fischer sold 5,501 shares of Facebook stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $196.84, for a total transaction of $1,082,816.84. The disclosure for this sale can be found here. Insiders have sold 360,793 shares of company stock worth $67,585,618 over the last three months. 14.53% of the stock is owned by insiders.

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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