Facebook Inc (FB) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC trimmed its position in shares of Facebook Inc (NASDAQ:FB) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,802 shares of the social networking company’s stock after selling 850 shares during the quarter. Facebook makes up about 1.1% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Carnegie Capital Asset Management LLC’s holdings in Facebook were worth $8,770,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of FB. Mutual of America Capital Management LLC grew its stake in shares of Facebook by 2.4% during the first quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after purchasing an additional 6,740 shares during the last quarter. Palisade Capital Management LLC NJ boosted its stake in Facebook by 2.4% in the second quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock valued at $3,904,000 after acquiring an additional 602 shares during the last quarter. ING Groep NV boosted its stake in Facebook by 6.9% in the second quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock valued at $89,041,000 after acquiring an additional 37,822 shares during the last quarter. Grand Jean Capital Management Inc. boosted its stake in Facebook by 14.3% in the first quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after acquiring an additional 15,910 shares during the last quarter. Finally, Segment Wealth Management LLC boosted its stake in Facebook by 157.5% in the first quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock valued at $1,042,000 after acquiring an additional 4,485 shares during the last quarter. 57.86% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $173.58, for a total value of $130,185.00. Following the completion of the transaction, the vice president now owns 94,091 shares of the company’s stock, valued at $16,332,315.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David B. Fischer sold 16,621 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $183.51, for a total transaction of $3,050,119.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,932,625 shares of company stock valued at $879,469,497. 17.23% of the stock is owned by insiders.

FB has been the topic of a number of recent research reports. Cowen reaffirmed an “average” rating and issued a $200.00 price objective (up from $195.00) on shares of Facebook in a research note on Wednesday, September 27th. Robert W. Baird reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Facebook in a research note on Friday, September 1st. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $174.15 price objective on the stock in a research note on Monday, August 28th. SunTrust Banks began coverage on shares of Facebook in a report on Tuesday, August 15th. They issued a “buy” rating and a $210.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $190.00 target price on shares of Facebook in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average price target of $200.73.

Shares of Facebook Inc (NASDAQ FB) opened at $179.00 on Monday. The company has a market cap of $520,139.66, a price-to-earnings ratio of 34.49, a P/E/G ratio of 1.14 and a beta of 0.69. Facebook Inc has a twelve month low of $114.77 and a twelve month high of $184.25.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. equities research analysts forecast that Facebook Inc will post 5.86 EPS for the current fiscal year.

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About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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