Icon Advisers Inc. Co. Grows Position in Facebook, Inc. (FB)

Icon Advisers Inc. Co. lifted its position in shares of Facebook, Inc. (NASDAQ:FB) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,173 shares of the social networking company’s stock after purchasing an additional 3,100 shares during the quarter. Facebook comprises 1.1% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 22nd biggest holding. Icon Advisers Inc. Co.’s holdings in Facebook were worth $15,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Autus Asset Management LLC bought a new stake in shares of Facebook during the second quarter valued at approximately $253,000. Grisanti Capital Management LLC raised its stake in Facebook by 35.2% during the second quarter. Grisanti Capital Management LLC now owns 74,240 shares of the social networking company’s stock valued at $14,426,000 after buying an additional 19,332 shares during the last quarter. WESPAC Advisors SoCal LLC raised its stake in Facebook by 4.8% during the second quarter. WESPAC Advisors SoCal LLC now owns 13,121 shares of the social networking company’s stock valued at $2,549,000 after buying an additional 600 shares during the last quarter. Willingdon Wealth Management raised its stake in Facebook by 4.7% during the second quarter. Willingdon Wealth Management now owns 29,708 shares of the social networking company’s stock valued at $5,773,000 after buying an additional 1,347 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Facebook during the second quarter valued at $48,792,000. Institutional investors own 60.25% of the company’s stock.

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

FB stock opened at $144.96 on Friday. Facebook, Inc. has a 1-year low of $139.03 and a 1-year high of $218.62. The firm has a market capitalization of $440.19 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 earnings per share. As a group, research analysts expect that Facebook, Inc. will post 7.35 EPS for the current fiscal year.

In related news, CEO Mark Zuckerberg sold 602,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $176.67, for a total transaction of $106,355,340.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 10,600 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $180.98, for a total value of $1,918,388.00. Following the sale, the insider now owns 99,573 shares of the company’s stock, valued at approximately $18,020,721.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,571,582 shares of company stock valued at $448,690,663. 17.23% of the stock is owned by company insiders.

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Facebook Company Profile

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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