Watch Point Trust Co Purchases 12,138 Shares of Facebook, Inc. (NASDAQ:FB)

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Watch Point Trust Co raised its position in Facebook, Inc. (NASDAQ:FB) by 432.9% during the third quarter, Holdings Channel reports. The institutional investor owned 14,942 shares of the social networking company’s stock after buying an additional 12,138 shares during the quarter. Watch Point Trust Co’s holdings in Facebook were worth $2,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Financial Advantage Inc. acquired a new stake in Facebook during the 3rd quarter worth $28,000. Cordasco Financial Network raised its stake in shares of Facebook by 70.0% in the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares during the period. Shamrock Asset Management LLC acquired a new stake in shares of Facebook in the 2nd quarter valued at about $38,000. Clean Yield Group acquired a new stake in shares of Facebook in the 2nd quarter valued at about $39,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in shares of Facebook in the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 63.17% of the company’s stock.

In other Facebook news, CFO David M. Wehner sold 11,036 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $183.44, for a total transaction of $2,024,443.84. Following the completion of the transaction, the chief financial officer now directly owns 19,477 shares in the company, valued at $3,572,860.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO David B. Fischer sold 12,267 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $184.12, for a total transaction of $2,258,600.04. Following the transaction, the executive now owns 48,970 shares of the company’s stock, valued at $9,016,356.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,681,364 shares of company stock valued at $867,172,511. 14.53% of the stock is currently owned by corporate insiders.

FB has been the topic of several recent research reports. Oppenheimer lifted their price target on Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on Facebook from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reissued a “buy” rating and issued a $255.00 price target on shares of Facebook in a research note on Thursday, October 31st. Bank of America set a $224.00 price target on Facebook and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Rosenblatt Securities set a $242.00 price target on Facebook and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $228.33.

Facebook stock traded up $0.42 during midday trading on Friday, reaching $190.84. 10,760,700 shares of the company’s stock were exchanged, compared to its average volume of 16,776,678. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66. The firm has a market cap of $554.39 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 1.10 and a beta of 1.05. The stock’s 50-day simple moving average is $185.37 and its 200 day simple moving average is $187.27. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $208.66.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.21. The business had revenue of $17.65 billion during the quarter, compared to analysts’ expectations of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. Research analysts forecast that Facebook, Inc. will post 8.57 earnings per share for the current year.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

See Also: CBOE Russell 2000® Volatility Index

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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