Adirondack Trust Co. Sells 62 Shares of Facebook, Inc. (NASDAQ:FB)
Adirondack Trust Co. cut its stake in shares of Facebook, Inc. (NASDAQ:FB) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,597 shares of the social networking company’s stock after selling 62 shares during the period. Adirondack Trust Co.’s holdings in Facebook were worth $1,175,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Cordasco Financial Network boosted its position in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after buying an additional 70 shares during the last quarter. Shamrock Asset Management LLC purchased a new stake in shares of Facebook during the second quarter valued at $38,000. Clean Yield Group purchased a new stake in shares of Facebook during the second quarter valued at $39,000. Litman Gregory Asset Management LLC purchased a new stake in shares of Facebook during the second quarter valued at $41,000. Finally, Spectrum Management Group Inc. boosted its position in shares of Facebook by 135.3% during the second quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock valued at $46,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 63.18% of the company’s stock.
Several equities research analysts recently commented on the company. MKM Partners reaffirmed a “buy” rating and set a $245.00 price objective (up from $190.00) on shares of Facebook in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Facebook from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Facebook in a research report on Monday, July 22nd. Credit Suisse Group increased their price objective on Facebook from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Moffett Nathanson raised Facebook from a “neutral” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Tuesday, June 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and forty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $220.81.
Shares of FB stock traded up $2.10 during trading hours on Wednesday, reaching $179.85. 6,813,074 shares of the company traded hands, compared to its average volume of 17,000,512. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $208.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47. The company has a market cap of $512.53 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.05 and a beta of 1.02. The firm has a 50-day moving average price of $183.34 and a 200 day moving average price of $184.99.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The firm had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same period in the previous year, the firm earned $1.74 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. Sell-side analysts predict that Facebook, Inc. will post 7.99 EPS for the current year.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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