HCR Wealth Advisors Cuts Stake in Facebook, Inc. (NASDAQ:FB)

HCR Wealth Advisors cut its stake in Facebook, Inc. (NASDAQ:FB) by 4.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 21,157 shares of the social networking company’s stock after selling 1,065 shares during the quarter. Facebook accounts for about 1.2% of HCR Wealth Advisors’ portfolio, making the stock its 13th largest position. HCR Wealth Advisors’ holdings in Facebook were worth $5,005,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Capital International Investors increased its position in shares of Facebook by 14.1% during the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after acquiring an additional 6,394,036 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Facebook by 36.9% during the first quarter. Wellington Management Group LLP now owns 15,704,846 shares of the social networking company’s stock worth $2,619,569,000 after acquiring an additional 4,236,566 shares during the last quarter. Copper Rock Capital Partners LLC increased its position in shares of Facebook by 6,224.9% during the second quarter. Copper Rock Capital Partners LLC now owns 3,959,790 shares of the social networking company’s stock worth $821,695,000 after acquiring an additional 3,897,184 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Facebook by 1,141.8% during the first quarter. Fisher Asset Management LLC now owns 3,852,395 shares of the social networking company’s stock worth $642,580,000 after acquiring an additional 3,542,165 shares during the last quarter. Finally, Public Investment Fund purchased a new stake in shares of Facebook during the first quarter worth about $521,859,000. 65.12% of the stock is currently owned by institutional investors.

NASDAQ:FB traded up $19.17 during midday trading on Friday, hitting $253.67. 53,030,037 shares of the stock were exchanged, compared to its average volume of 19,530,204. Facebook, Inc. has a one year low of $137.10 and a one year high of $255.85. The company has a market capitalization of $722.73 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 1.81 and a beta of 1.19. The business has a 50-day moving average price of $235.27 and a two-hundred day moving average price of $207.59. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09.

Facebook (NASDAQ:FB) last announced its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The firm had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. Sell-side analysts forecast that Facebook, Inc. will post 7.4 EPS for the current fiscal year.

In other Facebook news, CRO David B. Fischer sold 22,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $205.29, for a total value of $4,516,380.00. Following the transaction, the executive now owns 57,503 shares of the company’s stock, valued at $11,804,790.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $234.76, for a total value of $45,543.44. Following the completion of the transaction, the vice president now directly owns 1,918 shares in the company, valued at approximately $450,269.68. The disclosure for this sale can be found here. Insiders sold 68,591 shares of company stock worth $14,894,825 in the last ninety days. 14.14% of the stock is owned by corporate insiders.

FB has been the subject of several research analyst reports. SunTrust Banks reissued a “buy” rating and issued a $285.00 price objective (up from $245.00) on shares of Facebook in a report on Friday. Robert W. Baird boosted their price objective on Facebook from $240.00 to $300.00 in a report on Thursday, June 25th. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a report on Friday, June 12th. Citigroup boosted their price objective on Facebook from $245.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Cfra lowered Facebook from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. Facebook currently has a consensus rating of “Buy” and a consensus target price of $273.37.

Facebook 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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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