Washington Trust Bank Has $8.87 Million Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Washington Trust Bank trimmed its stake in Facebook, Inc. (NASDAQ:FB) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,066 shares of the social networking company’s stock after selling 446 shares during the quarter. Facebook comprises about 1.4% of Washington Trust Bank’s holdings, making the stock its 20th biggest position. Washington Trust Bank’s holdings in Facebook were worth $8,871,000 as of its most recent filing with the Securities and Exchange Commission.

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

A number of research analysts recently weighed in on FB shares. Needham & Company LLC started coverage on shares of Facebook in a research report on Thursday, July 2nd. They set a “hold” rating on the stock. Robert W. Baird raised their price target on shares of Facebook from $240.00 to $300.00 in a research report on Thursday, June 25th. Nomura raised their price target on shares of Facebook from $253.00 to $260.00 in a research report on Thursday, April 30th. Guggenheim raised their price target on shares of Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus raised their price target on shares of Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. One 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 issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $273.37.

Shares of NASDAQ:FB opened at $253.67 on Friday. The company has a 50 day moving average of $235.27 and a 200 day moving average of $207.59. The stock has a market cap of $722.73 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.81 and a beta of 1.19. Facebook, Inc. has a 12 month low of $137.10 and a 12 month high of $255.85. 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 issued its quarterly earnings data on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.44 by $0.36. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The company had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. On average, equities analysts forecast that Facebook, Inc. will post 7.4 earnings per share for the current fiscal year.

In other Facebook news, CFO David M. Wehner sold 11,764 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $231.66, for a total value of $2,725,248.24. Following the completion of the transaction, the chief financial officer now owns 19,412 shares of the company’s stock, valued at approximately $4,496,983.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total transaction of $45,543.44. Following the completion of the transaction, the vice president now directly owns 1,918 shares of the company’s stock, valued at approximately $450,269.68. The disclosure for this sale can be found here. In the last three months, insiders sold 68,591 shares of company stock valued at $14,894,825. Corporate insiders own 14.14% 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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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