Schmidt P J Investment Management Inc. Cuts Stake in Facebook, Inc. (NASDAQ:FB)

Schmidt P J Investment Management Inc. trimmed its position in shares of Facebook, Inc. (NASDAQ:FB) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,120 shares of the social networking company’s stock after selling 60 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Facebook were worth $1,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Triton Wealth Management PLLC grew its position in Facebook by 107.5% during the 2nd quarter. Triton Wealth Management PLLC now owns 4,639 shares of the social networking company’s stock valued at $1,079,000 after purchasing an additional 2,403 shares during the last quarter. Davis Capital Management grew its position in Facebook by 4.2% during the 2nd quarter. Davis Capital Management now owns 3,558 shares of the social networking company’s stock valued at $808,000 after purchasing an additional 142 shares during the last quarter. Koshinski Asset Management Inc. grew its position in Facebook by 29.2% during the 2nd quarter. Koshinski Asset Management Inc. now owns 5,794 shares of the social networking company’s stock valued at $1,316,000 after purchasing an additional 1,309 shares during the last quarter. Carl P. Sherr & Co. LLC grew its position in Facebook by 13.5% during the 2nd quarter. Carl P. Sherr & Co. LLC now owns 5,592 shares of the social networking company’s stock valued at $1,270,000 after purchasing an additional 665 shares during the last quarter. Finally, Avestar Capital LLC lifted its stake in Facebook by 23.7% during the 2nd quarter. Avestar Capital LLC now owns 30,747 shares of the social networking company’s stock valued at $6,982,000 after acquiring an additional 5,885 shares during the period. 65.12% of the stock is currently owned by institutional investors.

In related news, CRO David B. Fischer sold 22,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the transaction, the executive now directly owns 57,503 shares of the company’s stock, valued at $11,804,790.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jennifer Newstead sold 194 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $246.22, for a total transaction of $47,766.68. Following the completion of the transaction, the vice president now directly owns 2,112 shares of the company’s stock, valued at $520,016.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,591 shares of company stock valued at $14,894,825. 14.14% of the stock is currently owned by insiders.

Shares of FB opened at $253.67 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. Facebook, Inc. has a 1 year low of $137.10 and a 1 year high of $255.85. The company has a 50 day simple moving average of $235.27 and a two-hundred day simple moving average of $207.59. The firm has a market cap of $722.73 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The business had revenue of $18.69 billion during the quarter, compared to analyst estimates of $17.29 billion. On average, sell-side analysts anticipate that Facebook, Inc. will post 7.4 earnings per share for the current year.

Several equities analysts have issued reports on the stock. Rosenblatt Securities upped their target price on shares of Facebook from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities upped their target price on shares of Facebook from $250.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets upped their target price on shares of Facebook from $220.00 to $225.00 and gave the company a “market perform” rating in a research note on Friday. TheStreet upgraded shares of Facebook from a “c+” rating to a “b” rating in a research note on Thursday, April 30th. Finally, Loop Capital upped their target price on shares of Facebook from $215.00 to $265.00 in a research note on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. Facebook presently has an average rating of “Buy” and a consensus price target of $273.37.

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.

Featured Story: What sectors are represented in the Hang Seng index?

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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.