Hallmark Capital Management Inc. Cuts Holdings in Facebook, Inc. (FB)
Hallmark Capital Management Inc. trimmed its position in shares of Facebook, Inc. (NASDAQ:FB) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,266 shares of the social networking company’s stock after selling 36 shares during the quarter. Hallmark Capital Management Inc.’s holdings in Facebook were worth $342,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. First Financial Corp IN grew its position in shares of Facebook by 0.5% in the 1st quarter. First Financial Corp IN now owns 2,436 shares of the social networking company’s stock worth $346,000 after buying an additional 11 shares during the period. Enterprise Financial Services Corp increased its stake in shares of Facebook by 1.0% in the 1st quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock worth $302,000 after acquiring an additional 21 shares in the last quarter. Keel Point LLC increased its stake in shares of Facebook by 1.5% in the 1st quarter. Keel Point LLC now owns 2,289 shares of the social networking company’s stock worth $325,000 after acquiring an additional 34 shares in the last quarter. Somerset Group LLC lifted its position in Facebook by 0.9% during the 1st quarter. Somerset Group LLC now owns 3,900 shares of the social networking company’s stock valued at $554,000 after acquiring an additional 35 shares during the period. Finally, Montag A & Associates Inc. lifted its position in Facebook by 1.1% during the 1st quarter. Montag A & Associates Inc. now owns 3,381 shares of the social networking company’s stock valued at $480,000 after acquiring an additional 36 shares during the period. 57.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Facebook, Inc. (NASDAQ:FB) traded up 0.33% during midday trading on Tuesday, reaching $170.03. The company had a trading volume of 5,256,848 shares. The company has a market capitalization of $493.80 billion, a P/E ratio of 38.06 and a beta of 0.70. The company’s 50 day moving average price is $169.85 and its 200-day moving average price is $156.50. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. Facebook’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, equities research analysts predict that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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Several research firms recently commented on FB. BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $185.00 target price (up previously from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Mizuho reaffirmed a “buy” rating on shares of Facebook in a research note on Monday, August 7th. MKM Partners reiterated a “buy” rating and set a $200.00 target price (up from $180.00) on shares of Facebook in a report on Monday, August 7th. Finally, Pivotal Research lowered shares of Facebook from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have given a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $185.06.
In other news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $149.00, for a total value of $111,750.00. Following the completion of the sale, the vice president now directly owns 86,156 shares of the company’s stock, valued at approximately $12,837,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Thiel sold 60,316 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $172.25, for a total value of $10,389,431.00. Following the completion of the sale, the director now directly owns 6,311 shares of the company’s stock, valued at $1,087,069.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,667,406 shares of company stock worth $2,078,665,122. 19.08% of the stock is owned by insiders.
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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