Rockland Trust Co. cut its stake in shares of Facebook Inc (NASDAQ:FB) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 61,811 shares of the social networking company’s stock after selling 1,706 shares during the period. Facebook makes up approximately 1.4% of Rockland Trust Co.’s holdings, making the stock its 26th largest holding. Rockland Trust Co.’s holdings in Facebook were worth $10,907,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in FB. Country Trust Bank increased its holdings in Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after purchasing an additional 479 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Facebook in the 3rd quarter valued at approximately $111,000. Stelac Advisory Services LLC bought a new stake in shares of Facebook in the 3rd quarter valued at approximately $152,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Facebook in the 2nd quarter valued at approximately $138,000. Finally, Odey Holdings AG increased its holdings in shares of Facebook by 5.4% in the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after acquiring an additional 54 shares during the last quarter. 58.48% of the stock is currently owned by hedge funds and other institutional investors.
Facebook Inc (NASDAQ FB) opened at $181.88 on Wednesday. Facebook Inc has a 12-month low of $137.60 and a 12-month high of $195.32. The stock has a market capitalization of $527,020.00, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.64.
In other Facebook news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $179.76, for a total transaction of $134,820.00. Following the completion of the transaction, the vice president now owns 82,546 shares in the company, valued at approximately $14,838,468.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 456,800 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $183.57, for a total value of $83,854,776.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,467,131 shares of company stock valued at $798,223,122 in the last quarter. 17.23% of the stock is currently owned by insiders.
FB has been the subject of a number of research analyst reports. Vetr upgraded Facebook from a “buy” rating to a “strong-buy” rating and set a $197.10 price target for the company in a report on Wednesday, November 29th. MKM Partners boosted their price target on Facebook to $240.00 and gave the company a “buy” rating in a report on Friday, December 1st. Evercore ISI initiated coverage on Facebook in a report on Tuesday, December 5th. They issued an “outperform” rating and a $225.00 price target for the company. Wells Fargo & Co reiterated a “buy” rating and issued a $215.00 price target on shares of Facebook in a report on Tuesday, December 5th. Finally, Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, forty-one have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $214.70.
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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