Smith Asset Management Group LP Has $122.88 Million Holdings in Facebook Inc (FB)
Smith Asset Management Group LP reduced its holdings in Facebook Inc (NASDAQ:FB) by 17.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 719,167 shares of the social networking company’s stock after selling 151,412 shares during the quarter. Facebook accounts for about 4.1% of Smith Asset Management Group LP’s investment portfolio, making the stock its 2nd largest holding. Smith Asset Management Group LP’s holdings in Facebook were worth $122,881,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in FB. D. Scott Neal Inc. grew its holdings in shares of Facebook by 1,358.0% during the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of Facebook during the second quarter worth about $138,000. Vigilant Capital Management LLC grew its holdings in shares of Facebook by 17.8% during the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock worth $150,000 after buying an additional 150 shares in the last quarter. Odey Holdings AG grew its holdings in shares of Facebook by 5.4% during the second quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock worth $160,000 after buying an additional 54 shares in the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in shares of Facebook during the second quarter worth about $165,000. Institutional investors own 57.75% of the company’s stock.
In other news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $172.43, for a total value of $129,322.50. Following the transaction, the vice president now owns 89,916 shares in the company, valued at approximately $15,504,215.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Todd Schroepfer sold 38,017 shares of Facebook stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $187.83, for a total value of $7,140,733.11. Following the completion of the transaction, the insider now owns 381,521 shares in the company, valued at approximately $71,661,089.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,181,449 shares of company stock worth $752,592,962. Corporate insiders own 17.23% of the company’s stock.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping the Zacks’ 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 quarter last year, the company earned $1.09 EPS. The company’s revenue was up 47.3% on a year-over-year basis. equities research analysts anticipate that Facebook Inc will post 5.86 EPS for the current year.
A number of research firms recently issued reports on FB. Credit Suisse Group reiterated an “outperform” rating and set a $232.00 price objective (up from $230.00) on shares of Facebook in a report on Monday, January 8th. Stifel Nicolaus downgraded Facebook from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $180.74 price objective for the company in a report on Monday, September 25th. Morgan Stanley reissued an “overweight” rating and set a $195.00 price target (up from $190.00) on shares of Facebook in a research report on Monday, October 2nd. Finally, Wells Fargo & Co set a $215.00 price target on Facebook and gave the company a “buy” rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have given a buy rating and three have given a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and an average price target of $203.72.
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Facebook Company 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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