Facebook Inc (NASDAQ:FB) Stake Lessened by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. reduced its stake in shares of Facebook Inc (NASDAQ:FB) by 5.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 748,246 shares of the social networking company’s stock after selling 46,600 shares during the quarter. Facebook accounts for approximately 1.5% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 3rd largest holding. Tocqueville Asset Management L.P.’s holdings in Facebook were worth $127,853,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Palisade Capital Management LLC NJ grew its stake in shares of 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 worth $3,904,000 after purchasing an additional 602 shares during the last quarter. ING Groep NV grew its stake in shares of Facebook by 6.9% in the second quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock worth $89,041,000 after purchasing an additional 37,822 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of Facebook in the first quarter worth about $94,601,000. Schwab Charles Investment Management Inc. lifted its holdings in Facebook by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock worth $1,128,745,000 after buying an additional 349,182 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Facebook by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock worth $26,514,000 after buying an additional 907 shares during the period. 57.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP David B. Fischer sold 16,621 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Todd Schroepfer sold 38,017 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the sale, the insider now directly owns 381,521 shares of the company’s stock, valued at approximately $71,661,089.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,559,250 shares of company stock valued at $280,485,300. 17.23% of the stock is currently owned by insiders.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue was up 47.3% on a year-over-year basis. equities analysts predict that Facebook Inc will post 5.86 earnings per share for the current year.
FB has been the subject of several research analyst reports. Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $209.16 price objective for the company in a report on Thursday, January 25th. Credit Suisse Group restated a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. UBS Group set a $208.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a report on Friday. Finally, Wedbush set a $225.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $202.94.
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.
Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.