Altfest L J & Co. Inc. Sells 4,260 Shares of Facebook Inc (FB)

Altfest L J & Co. Inc. lowered its stake in shares of Facebook Inc (NASDAQ:FB) by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,217 shares of the social networking company’s stock after selling 4,260 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Facebook were worth $1,575,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in Facebook by 283.6% in the 2nd quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock valued at $1,794,857,000 after purchasing an additional 8,788,743 shares during the period. Vanguard Group Inc. grew its stake in Facebook by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after purchasing an additional 5,151,190 shares during the period. BlackRock Inc. grew its stake in Facebook by 3.0% in the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after purchasing an additional 4,032,727 shares during the period. Harbour Capital Advisors LLC grew its stake in Facebook by 15,047.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock valued at $16,828,000 after purchasing an additional 2,523,918 shares during the period. Finally, Magellan Asset Management Ltd grew its stake in Facebook by 28.4% in the 2nd quarter. Magellan Asset Management Ltd now owns 10,686,955 shares of the social networking company’s stock valued at $1,613,516,000 after purchasing an additional 2,361,166 shares during the period. Institutional investors and hedge funds own 57.71% of the company’s stock.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $202.00 price objective for the company in a research note on Tuesday, November 7th. Vetr downgraded Facebook from a “strong-buy” rating to a “buy” rating and set a $198.52 price objective for the company. in a research note on Thursday, December 7th. Aegis upped their price objective on Facebook from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Royal Bank of Canada upped their price objective on Facebook from $195.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Finally, Barclays upped their price objective on Facebook from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and an average target price of $200.81.

Shares of Facebook Inc (FB) opened at $177.20 on Monday. The stock has a market capitalization of $514,910.00, a PE ratio of 32.94, a P/E/G ratio of 1.13 and a beta of 0.69. Facebook Inc has a 1-year low of $114.77 and a 1-year high of $184.25.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. analysts anticipate that Facebook Inc will post 5.86 earnings per share for the current year.

In other Facebook news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $170.10, for a total value of $127,575.00. Following the transaction, the vice president now directly owns 92,191 shares in the company, valued at approximately $15,681,689.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $178.10, for a total value of $2,849,600.00. Following the completion of the transaction, the insider now owns 16,010 shares in the company, valued at $2,851,381. The disclosure for this sale can be found here. Insiders have sold a total of 4,818,989 shares of company stock worth $861,374,803 in the last three months. 17.23% of the stock is currently owned by insiders.

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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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