Cullen Frost Bankers Inc. Decreases Stock Position in Facebook, Inc. (NASDAQ:FB)

Cullen Frost Bankers Inc. cut its position in Facebook, Inc. (NASDAQ:FB) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,471 shares of the social networking company’s stock after selling 16,656 shares during the quarter. Facebook comprises about 1.3% of Cullen Frost Bankers Inc.’s holdings, making the stock its 13th largest position. Cullen Frost Bankers Inc.’s holdings in Facebook were worth $46,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FB. Patten & Patten Inc. TN increased its position in Facebook by 5.2% in the third quarter. Patten & Patten Inc. TN now owns 1,424 shares of the social networking company’s stock worth $254,000 after purchasing an additional 70 shares during the period. Peregrine Capital Management LLC increased its position in Facebook by 0.3% in the third quarter. Peregrine Capital Management LLC now owns 201,638 shares of the social networking company’s stock worth $35,908,000 after purchasing an additional 664 shares during the period. Massey Quick Simon & CO. LLC increased its position in Facebook by 20.0% in the third quarter. Massey Quick Simon & CO. LLC now owns 2,109 shares of the social networking company’s stock worth $376,000 after purchasing an additional 352 shares during the period. CIBC Private Wealth Group LLC increased its position in Facebook by 2.1% in the third quarter. CIBC Private Wealth Group LLC now owns 351,723 shares of the social networking company’s stock worth $62,636,000 after purchasing an additional 7,089 shares during the period. Finally, YCG LLC increased its position in Facebook by 2.8% in the third quarter. YCG LLC now owns 150,352 shares of the social networking company’s stock worth $26,775,000 after purchasing an additional 4,078 shares during the period. Hedge funds and other institutional investors own 63.91% of the company’s stock.

In related news, VP Jennifer Newstead sold 260 shares of Facebook stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at approximately $1,325,935.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter Thiel sold 53,602 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $210.56, for a total value of $11,286,437.12. Following the completion of the sale, the director now owns 9,948 shares of the company’s stock, valued at $2,094,650.88. The disclosure for this sale can be found here. Insiders sold 80,531 shares of company stock worth $16,696,656 in the last 90 days. Corporate insiders own 14.53% of the company’s stock.

Shares of FB stock opened at $213.14 on Friday. The company has a fifty day moving average price of $213.29 and a two-hundred day moving average price of $195.87. Facebook, Inc. has a one year low of $159.28 and a one year high of $224.20. The stock has a market cap of $607.54 billion, a P/E ratio of 33.10, a P/E/G ratio of 1.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.40 and a quick ratio of 4.40.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.03. The firm had revenue of $21.08 billion for the quarter, compared to the consensus estimate of $20.90 billion. Facebook had a return on equity of 19.97% and a net margin of 26.15%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.38 earnings per share. As a group, equities research analysts anticipate that Facebook, Inc. will post 9.28 EPS for the current fiscal year.

FB has been the subject of several analyst reports. Robert W. Baird restated a “buy” rating and set a $230.00 target price on shares of Facebook in a research report on Thursday, January 30th. Barclays set a $260.00 target price on Facebook and gave the stock a “buy” rating in a research report on Thursday, January 30th. UBS Group decreased their target price on Facebook from $250.00 to $246.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Oppenheimer boosted their target price on Facebook from $230.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Aegis boosted their target price on Facebook from $235.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, December 30th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $245.48.

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.

Recommended Story: How is the discount rate different from the Federal Funds rate?

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.