CCM Investment Advisers LLC Grows Holdings in Facebook, Inc. (FB)

CCM Investment Advisers LLC grew its position in Facebook, Inc. (NASDAQ:FB) by 31.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,480 shares of the social networking company’s stock after acquiring an additional 15,506 shares during the quarter. Facebook accounts for 1.9% of CCM Investment Advisers LLC’s portfolio, making the stock its 22nd biggest holding. CCM Investment Advisers LLC’s holdings in Facebook were worth $9,886,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI increased its position in shares of Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after purchasing an additional 120 shares during the last quarter. D. Scott Neal Inc. increased its position in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Facebook by 4.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares during the last quarter. Pacific Center for Financial Services increased its position in shares of Facebook by 10.7% during the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares during the last quarter. Finally, Watermark Asset Management Inc. bought a new position in shares of Facebook during the 1st quarter valued at approximately $141,000. 57.27% of the stock is currently owned by institutional investors and hedge funds.

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Facebook, Inc. (NASDAQ FB) opened at 179.87 on Tuesday. The firm’s 50 day moving average price is $171.82 and its 200-day moving average price is $161.20. The stock has a market cap of $522.38 billion, a price-to-earnings ratio of 40.26 and a beta of 0.70. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $180.69.

Several equities analysts have commented on FB shares. Zacks Investment Research downgraded Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Facebook in a research report on Thursday, July 27th. Wedbush reaffirmed a “buy” rating on shares of Facebook in a research report on Thursday, July 27th. Credit Suisse Group reaffirmed a “buy” rating on shares of Facebook in a research report on Wednesday, October 11th. Finally, Macquarie set a $175.00 price objective on Facebook and gave the company a “buy” rating in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, forty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $186.72.

In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $171.88, for a total value of $128,910.00. Following the transaction, the vice president now owns 82,406 shares in the company, valued at approximately $14,163,943.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Todd Schroepfer sold 37,963 shares of Facebook stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $171.98, for a total transaction of $6,528,876.74. Following the completion of the transaction, the insider now owns 882,427 shares in the company, valued at approximately $151,759,795.46. The disclosure for this sale can be found here. Insiders have sold a total of 5,705,933 shares of company stock valued at $972,931,125 in the last three months. Company insiders own 19.08% of the company’s stock.

About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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