Manitou Investment Management Ltd. Raises Stake in Facebook, Inc. (NASDAQ:FB)

Manitou Investment Management Ltd. raised its position in shares of Facebook, Inc. (NASDAQ:FB) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,730 shares of the social networking company’s stock after purchasing an additional 460 shares during the quarter. Facebook accounts for about 0.2% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 26th largest position. Manitou Investment Management Ltd.’s holdings in Facebook were worth $664,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FB. Boltwood Capital Management increased its position in shares of Facebook by 1.0% during the second quarter. Boltwood Capital Management now owns 6,758 shares of the social networking company’s stock worth $1,304,000 after acquiring an additional 65 shares in the last quarter. Park National Corp OH grew its position in Facebook by 0.7% in the 2nd quarter. Park National Corp OH now owns 202,943 shares of the social networking company’s stock worth $39,168,000 after purchasing an additional 1,427 shares in the last quarter. Private Trust Co. NA grew its position in Facebook by 2.1% in the 2nd quarter. Private Trust Co. NA now owns 19,146 shares of the social networking company’s stock worth $3,695,000 after purchasing an additional 387 shares in the last quarter. Baystate Wealth Management LLC grew its position in Facebook by 19.8% in the 2nd quarter. Baystate Wealth Management LLC now owns 4,432 shares of the social networking company’s stock worth $855,000 after purchasing an additional 734 shares in the last quarter. Finally, Private Asset Management Inc. bought a new stake in Facebook in the 2nd quarter worth about $212,000. 63.17% of the stock is currently owned by institutional investors and hedge funds.

FB has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Facebook from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. KeyCorp increased their target price on shares of Facebook from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Raymond James increased their target price on shares of Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. They noted that the move was a valuation call. Canaccord Genuity increased their target price on shares of Facebook from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Monness Crespi & Hardt increased their target price on shares of Facebook from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $228.33.

In other Facebook news, CRO David B. Fischer sold 12,267 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $184.12, for a total value of $2,258,600.04. Following the sale, the executive now owns 48,970 shares of the company’s stock, valued at approximately $9,016,356.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 122,855 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $192.22, for a total transaction of $23,615,188.10. The disclosure for this sale can be found here. In the last three months, insiders sold 4,681,364 shares of company stock worth $867,172,511. Insiders own 14.53% of the company’s stock.

Shares of FB stock traded up $0.42 during trading on Friday, reaching $190.84. 10,760,700 shares of the company’s stock traded hands, compared to its average volume of 16,776,678. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.09. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $208.66. The firm’s 50-day moving average is $185.37 and its 200 day moving average is $187.27. The company has a market capitalization of $554.39 billion, a P/E ratio of 25.21, a PEG ratio of 1.10 and a beta of 1.05.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.21. The company had revenue of $17.65 billion for the quarter, compared to analyst estimates of $17.35 billion. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 EPS. As a group, sell-side analysts predict that Facebook, Inc. will post 8.57 earnings per share for the current fiscal year.

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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