Global Retirement Partners LLC Grows Stake in Facebook, Inc. (NASDAQ:FB)

Global Retirement Partners LLC boosted its position in Facebook, Inc. (NASDAQ:FB) by 14.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,823 shares of the social networking company’s stock after purchasing an additional 879 shares during the period. Global Retirement Partners LLC’s holdings in Facebook were worth $1,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FB. Watson Rebecca acquired a new stake in Facebook during the 2nd quarter valued at $25,000. JJJ Advisors Inc. raised its stake in Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 105 shares during the period. Demars Financial Group LLC acquired a new stake in Facebook during the 2nd quarter valued at $39,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in Facebook during the 2nd quarter valued at $47,000. Finally, Center for Financial Planning Inc. raised its stake in Facebook by 33.9% during the 2nd quarter. Center for Financial Planning Inc. now owns 257 shares of the social networking company’s stock valued at $58,000 after purchasing an additional 65 shares during the period. 65.31% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FB traded up $0.69 during midday trading on Friday, hitting $264.45. The stock had a trading volume of 14,027,907 shares, compared to its average volume of 23,607,381. The company’s 50-day moving average price is $269.58 and its 200-day moving average price is $230.14. The company has a market capitalization of $753.37 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $304.67.

Facebook (NASDAQ:FB) last posted its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 22.90%. The firm had revenue of $18.69 billion for the quarter, compared to analyst estimates of $17.29 billion. As a group, equities research analysts expect that Facebook, Inc. will post 8.1 earnings per share for the current fiscal year.

In other news, CAO Susan J.S. Taylor sold 1,133 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $261.39, for a total value of $296,154.87. Following the completion of the transaction, the chief accounting officer now directly owns 4,182 shares in the company, valued at $1,093,132.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total transaction of $47,766.68. Following the completion of the transaction, the vice president now owns 2,112 shares of the company’s stock, valued at $520,016.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,791 shares of company stock worth $9,347,989. Corporate insiders own 14.14% of the company’s stock.

A number of brokerages recently issued reports on FB. BidaskClub cut shares of Facebook from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Credit Suisse Group upped their price objective on shares of Facebook from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Needham & Company LLC assumed coverage on shares of Facebook in a report on Thursday, July 2nd. They issued a “hold” rating for the company. Mizuho upped their price target on shares of Facebook from $285.00 to $315.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, UBS Group upped their price target on shares of Facebook from $242.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $281.98.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used 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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