Canton Hathaway LLC Sells 330 Shares of Facebook, Inc. (NASDAQ:FB)

Canton Hathaway LLC lowered its stake in Facebook, Inc. (NASDAQ:FB) by 31.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 722 shares of the social networking company’s stock after selling 330 shares during the quarter. Canton Hathaway LLC’s holdings in Facebook were worth $129,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its position in Facebook by 5,336.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock valued at $4,341,794,000 after purchasing an additional 22,082,561 shares during the period. Invesco Ltd. grew its position in Facebook by 36.5% in the 2nd quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock valued at $6,764,908,000 after purchasing an additional 9,368,684 shares during the period. Viking Global Investors LP grew its position in Facebook by 231.7% in the 2nd quarter. Viking Global Investors LP now owns 7,063,705 shares of the social networking company’s stock valued at $1,363,295,000 after purchasing an additional 4,934,406 shares during the period. BlackRock Inc. grew its position in Facebook by 2.8% in the 2nd quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock valued at $29,270,846,000 after purchasing an additional 4,114,043 shares during the period. Finally, Vanguard Group Inc. grew its position in Facebook by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock valued at $34,871,738,000 after purchasing an additional 3,465,756 shares during the period. Institutional investors own 63.18% of the company’s stock.

In other news, CEO Mark Zuckerberg sold 118,500 shares of Facebook stock in a transaction on Monday, October 7th. The stock was sold at an average price of $180.03, for a total transaction of $21,333,555.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $180.92, for a total value of $9,950,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,604,556 shares of company stock worth $664,101,293 over the last quarter. Company insiders own 14.53% of the company’s stock.

Several analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Facebook from $230.00 to $247.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Canaccord Genuity lifted their price target on shares of Facebook from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price target on shares of Facebook from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Pivotal Research reissued a “buy” rating and issued a $225.00 price target (up previously from $220.00) on shares of Facebook in a research report on Thursday, July 25th. Finally, Bank of America set a $224.00 price target on shares of Facebook and gave the company a “buy” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and forty-two have given a buy rating to the stock. Facebook presently has a consensus rating of “Buy” and an average price target of $221.62.

NASDAQ FB opened at $184.19 on Friday. The stock has a market capitalization of $525.48 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.04 and a beta of 1.02. Facebook, Inc. has a one year low of $123.02 and a one year high of $208.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47. The business’s fifty day moving average is $183.27 and its 200-day moving average is $185.18.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.09. The company had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 EPS. Research analysts expect that Facebook, Inc. will post 7.99 EPS for the current fiscal year.

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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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