Facebook, Inc. (FB) Shares Sold by Azimuth Capital Management LLC

Azimuth Capital Management LLC trimmed its position in Facebook, Inc. (NASDAQ:FB) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,019 shares of the social networking company’s stock after selling 828 shares during the period. Facebook makes up about 1.0% of Azimuth Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Azimuth Capital Management LLC’s holdings in Facebook were worth $14,383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FB. Townsend & Associates Inc raised its stake in Facebook by 6.6% during the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock valued at $792,000 after purchasing an additional 254 shares during the period. Winslow Evans & Crocker Inc. raised its stake in Facebook by 2.2% during 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 purchasing an additional 274 shares during the period. Valmark Advisers Inc. raised its stake in Facebook by 18.6% during the 2nd quarter. Valmark Advisers Inc. now owns 1,797 shares of the social networking company’s stock valued at $349,000 after purchasing an additional 282 shares during the period. Harvest Group Wealth Management LLC raised its stake in Facebook by 2.4% during 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 purchasing an additional 286 shares during the period. Finally, Truewealth LLC raised its stake in Facebook by 7.1% during the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock valued at $837,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 58.42% of the company’s stock.

FB stock opened at $137.42 on Friday. Facebook, Inc. has a 52-week low of $126.85 and a 52-week high of $218.62. The stock has a market cap of $400.69 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 0.87 and a beta of 0.57.

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

In other Facebook news, insider Susan J.S. Taylor sold 2,112 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $137.50, for a total transaction of $290,400.00. Following the completion of the sale, the insider now directly owns 6,927 shares in the company, valued at $952,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $135.12, for a total transaction of $7,431,600.00. The disclosure for this sale can be found here. Insiders have sold 518,103 shares of company stock valued at $79,159,534 over the last 90 days. Corporate insiders own 17.23% of the company’s stock.

A number of research firms have recently weighed in on FB. Royal Bank of Canada reaffirmed a “buy” rating and issued a $225.00 price target on shares of Facebook in a research note on Monday, August 20th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $220.00 price target on shares of Facebook in a research note on Thursday, August 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $202.00 price target on shares of Facebook in a research note on Thursday, August 23rd. Robert W. Baird reaffirmed a “buy” rating and issued a $195.00 price target on shares of Facebook in a research note on Monday, September 3rd. Finally, Moffett Nathanson reaffirmed a “neutral” rating and issued a $175.00 price target on shares of Facebook in a research note on Tuesday, September 4th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Facebook has an average rating of “Buy” and an average price target of $191.80.

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About Facebook

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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