Smith Moore & CO. Has $1.30 Million Position in Facebook Inc (FB)

Smith Moore & CO. increased its stake in shares of Facebook Inc (NASDAQ:FB) by 12.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,584 shares of the social networking company’s stock after purchasing an additional 857 shares during the quarter. Smith Moore & CO.’s holdings in Facebook were worth $1,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Conservest Capital Advisors Inc. raised its stake in Facebook by 1.8% in the second quarter. Conservest Capital Advisors Inc. now owns 19,535 shares of the social networking company’s stock valued at $2,949,000 after buying an additional 350 shares during the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its stake in Facebook by 25.0% in the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 75,000 shares of the social networking company’s stock valued at $11,324,000 after buying an additional 15,000 shares during the last quarter. First Command Bank raised its stake in Facebook by 85.4% in the second quarter. First Command Bank now owns 5,076 shares of the social networking company’s stock valued at $766,000 after buying an additional 2,338 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in Facebook by 6.0% in the second quarter. Stock Yards Bank & Trust Co. now owns 4,921 shares of the social networking company’s stock valued at $743,000 after buying an additional 280 shares during the last quarter. Finally, Capital Asset Advisory Services LLC raised its stake in Facebook by 2.1% in the second quarter. Capital Asset Advisory Services LLC now owns 3,234 shares of the social networking company’s stock valued at $488,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 57.75% of the company’s stock.

A number of research firms have commented on FB. Credit Suisse Group reiterated an “outperform” rating and issued a $232.00 price target (up from $230.00) on shares of Facebook in a research note on Monday, January 8th. Stifel Nicolaus cut Facebook from a “buy” rating to a “hold” rating in a research note on Friday. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $180.74 price target for the company in a research note on Monday, September 25th. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 price target (up from $190.00) on shares of Facebook in a research note on Monday, October 2nd. Finally, Wells Fargo & Co set a $215.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $203.72.

In other Facebook news, VP David B. Fischer sold 4,699 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $171.53, for a total value of $806,019.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $172.43, for a total value of $129,322.50. Following the completion of the sale, the vice president now directly owns 89,916 shares in the company, valued at $15,504,215.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,181,449 shares of company stock worth $752,592,962. 17.23% of the stock is owned by corporate insiders.

Shares of Facebook Inc (FB) opened at $179.37 on Tuesday. The company has a market capitalization of $521,214.78, a PE ratio of 34.76, a P/E/G ratio of 1.02 and a beta of 0.68. Facebook Inc has a 1-year low of $126.78 and a 1-year high of $188.90.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period last year, the company earned $1.09 earnings per share. Facebook’s revenue for the quarter was up 47.3% compared to the same quarter last year. research analysts predict that Facebook Inc will post 5.86 EPS for the current fiscal year.

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Facebook Profile

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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