Cornerstone Advisory LLP Sells 1,077 Shares of Facebook, Inc. (FB)

Cornerstone Advisory LLP lessened its holdings in Facebook, Inc. (NASDAQ:FB) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,568 shares of the social networking company’s stock after selling 1,077 shares during the quarter. Cornerstone Advisory LLP’s holdings in Facebook were worth $1,860,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Facebook by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 22,102,171 shares of the social networking company’s stock valued at $4,294,895,000 after purchasing an additional 184,595 shares in the last quarter. Jennison Associates LLC raised its stake in Facebook by 9.9% during the second quarter. Jennison Associates LLC now owns 15,147,053 shares of the social networking company’s stock worth $2,943,375,000 after acquiring an additional 1,360,607 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Facebook by 0.5% during the first quarter. Loomis Sayles & Co. L P now owns 12,937,287 shares of the social networking company’s stock worth $2,067,249,000 after acquiring an additional 58,561 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Facebook by 4,170.3% during the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock worth $9,071,000 after acquiring an additional 8,858,520 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Facebook by 4.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 8,774,424 shares of the social networking company’s stock worth $1,705,047,000 after acquiring an additional 337,909 shares in the last quarter. 58.98% of the stock is owned by institutional investors.

FB has been the subject of several research analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $195.00 target price on shares of Facebook in a research note on Monday, September 3rd. Robert W. Baird reissued a “buy” rating and set a $195.00 target price on shares of Facebook in a research note on Monday, September 3rd. Stifel Nicolaus reissued a “buy” rating and set a $202.00 target price on shares of Facebook in a research note on Thursday, August 23rd. Wells Fargo & Co reissued a “buy” rating and set a $220.00 target price on shares of Facebook in a research note on Thursday, August 23rd. Finally, Bank of America reissued a “buy” rating and set a $205.00 target price on shares of Facebook in a research note on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $192.77.

In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $135.12, for a total transaction of $7,431,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $168.85, for a total value of $126,637.50. Following the transaction, the vice president now owns 96,894 shares in the company, valued at $16,360,551.90. The disclosure for this sale can be found here. Insiders sold 524,153 shares of company stock worth $80,193,956 over the last quarter. 17.23% of the stock is currently owned by company insiders.

Shares of FB stock opened at $140.61 on Monday. Facebook, Inc. has a one year low of $126.85 and a one year high of $218.62. The company has a market capitalization of $408.47 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.85 and a beta of 0.55.

Facebook (NASDAQ:FB) last announced its earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The business had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The firm’s revenue was up 32.9% on a year-over-year basis. On average, equities analysts predict that Facebook, Inc. will post 7.36 EPS for the current fiscal year.

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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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