ERTS Wealth Advisors LLC cut its stake in shares of Facebook, Inc. (NASDAQ:FB) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,411 shares of the social networking company’s stock after selling 70 shares during the period. ERTS Wealth Advisors LLC’s holdings in Facebook were worth $495,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. TFO TDC LLC purchased a new position in Facebook in the 4th quarter worth approximately $25,000. Permanens Capital L.P. bought a new position in shares of Facebook in the 4th quarter valued at approximately $28,000. American National Bank bought a new position in shares of Facebook in the 4th quarter valued at approximately $41,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Facebook in the 4th quarter valued at approximately $41,000. Finally, Lighthouse Financial Advisors Inc. acquired a new stake in shares of Facebook during the 4th quarter worth approximately $41,000. 65.29% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. Sanford C. Bernstein reiterated a “buy” rating and issued a $250.00 price objective on shares of Facebook in a research report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Facebook in a research report on Tuesday, March 17th. Goldman Sachs Group set a $170.00 target price on Facebook and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. restated a “buy” rating and issued a $225.00 price objective (down previously from $255.00) on shares of Facebook in a research note on Wednesday, March 18th. Finally, Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating and lowered their target price for the stock from $215.00 to $180.00 in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $241.88.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, January 29th. The social networking company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.03. Facebook had a net margin of 26.15% and a return on equity of 19.97%. The business had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $20.90 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts predict that Facebook, Inc. will post 8.97 EPS for the current year.
In other news, CRO David B. Fischer sold 11,142 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $192.00, for a total transaction of $2,139,264.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Newstead sold 260 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $212.85, for a total transaction of $55,341.00. Following the transaction, the vice president now owns 1,306 shares of the company’s stock, valued at $277,982.10. The disclosure for this sale can be found here. Insiders have sold a total of 84,067 shares of company stock worth $17,392,181 in the last three months. Insiders own 14.53% of the company’s stock.
Facebook Company Profile
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.
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