Occidental Asset Management LLC Trims Stake in Facebook, Inc. (NASDAQ:FB)

Occidental Asset Management LLC reduced its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 80.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,251 shares of the social networking company’s stock after selling 94,398 shares during the period. Facebook comprises 1.9% of Occidental Asset Management LLC’s portfolio, making the stock its 11th largest holding. Occidental Asset Management LLC’s holdings in Facebook were worth $4,772,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Financial Advantage Inc. purchased a new stake in shares of Facebook in the third quarter worth $28,000. American National Bank purchased a new stake in shares of Facebook in the fourth quarter worth $41,000. Winthrop Partners WNY LLC purchased a new stake in shares of Facebook in the third quarter worth $58,000. AlphaMark Advisors LLC increased its stake in shares of Facebook by 20.8% in the third quarter. AlphaMark Advisors LLC now owns 465 shares of the social networking company’s stock worth $83,000 after purchasing an additional 80 shares in the last quarter. Finally, Personal Wealth Partners increased its stake in shares of Facebook by 12.9% in the third quarter. Personal Wealth Partners now owns 481 shares of the social networking company’s stock worth $86,000 after purchasing an additional 55 shares in the last quarter. 63.77% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on FB. Citigroup restated a “buy” rating and set a $240.00 target price on shares of Facebook in a research report on Tuesday, December 3rd. BMO Capital Markets dropped their target price on shares of Facebook from $197.00 to $185.00 and set a “market perform” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. restated a “buy” rating and set a $255.00 target price on shares of Facebook in a research report on Thursday, October 31st. Tigress Financial restated a “buy” rating on shares of Facebook in a research report on Friday, December 27th. Finally, SunTrust Banks upped their target price on shares of Facebook from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-six have given a buy rating and one has given a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average target price of $238.04.

In other news, CEO Mark Zuckerberg sold 7,500 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.62, for a total value of $1,407,150.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jennifer Newstead sold 260 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $197.40, for a total transaction of $51,324.00. Following the completion of the sale, the vice president now directly owns 6,717 shares in the company, valued at approximately $1,325,935.80. The disclosure for this sale can be found here. In the last three months, insiders sold 1,228,140 shares of company stock worth $233,184,417. Insiders own 14.53% of the company’s stock.

Shares of FB opened at $222.01 on Thursday. Facebook, Inc. has a twelve month low of $142.52 and a twelve month high of $222.38. The company has a market cap of $633.12 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.17 and a beta of 1.05. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $205.75 and its 200-day simple moving average is $193.71.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, October 30th. The social networking company reported $2.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.21. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The business had revenue of $17.65 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. Analysts predict that Facebook, Inc. will post 8.48 earnings per share for the current fiscal year.

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.

See Also: Profit Margin

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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