Facebook, Inc. (FB) Position Reduced by LLBH Private Wealth Management LLC

LLBH Private Wealth Management LLC reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,084 shares of the social networking company’s stock after selling 980 shares during the quarter. Facebook accounts for approximately 1.3% of LLBH Private Wealth Management LLC’s holdings, making the stock its 9th biggest position. LLBH Private Wealth Management LLC’s holdings in Facebook were worth $3,320,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Townsend & Associates Inc raised its stake in shares of Facebook by 6.6% in the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock valued at $792,000 after buying an additional 254 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Facebook by 2.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock valued at $2,462,000 after buying an additional 274 shares in the last quarter. Harvest Group Wealth Management LLC raised its stake in shares of Facebook by 2.4% in the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock valued at $1,986,000 after buying an additional 286 shares in the last quarter. Truewealth LLC raised its stake in shares of Facebook by 7.1% in the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock valued at $837,000 after buying an additional 287 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its stake in shares of Facebook by 0.5% in the 2nd quarter. Sit Investment Associates Inc. now owns 56,660 shares of the social networking company’s stock valued at $11,010,000 after buying an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 60.25% of the company’s stock.

A number of brokerages have recently issued reports on FB. BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Wedbush restated an “outperform” rating and issued a $275.00 price objective on shares of Facebook in a research note on Friday, July 20th. Macquarie set a $220.00 price objective on shares of Facebook and gave the company a “buy” rating in a research note on Monday, July 23rd. Raymond James lowered their target price on shares of Facebook from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 31st. Finally, Piper Jaffray Companies upped their target price on shares of Facebook to $250.00 and gave the stock an “in-line” rating in a report on Friday, July 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $194.54.

Shares of NASDAQ:FB opened at $144.96 on Friday. Facebook, Inc. has a 12 month low of $139.03 and a 12 month high of $218.62. The stock has a market cap of $440.19 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 0.92 and a beta of 0.55.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The firm had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. The company’s revenue was up 32.9% on a year-over-year basis. On average, equities analysts forecast that Facebook, Inc. will post 7.35 earnings per share for the current year.

In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $179.17, for a total value of $134,377.50. Following the transaction, the vice president now owns 85,615 shares of the company’s stock, valued at approximately $15,339,639.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 210,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $181.02, for a total transaction of $38,014,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,571,582 shares of company stock worth $448,690,663. Insiders own 17.23% of the company’s stock.

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Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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