Facebook Inc (FB) Shares Sold by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. decreased its stake in shares of Facebook Inc (NASDAQ:FB) by 14.8% during the 3rd quarter, Holdings Channel reports. The firm owned 94,650 shares of the social networking company’s stock after selling 16,500 shares during the quarter. Facebook accounts for about 1.1% of Icon Advisers Inc. Co.’s holdings, making the stock its 13th biggest holding. Icon Advisers Inc. Co.’s holdings in Facebook were worth $16,173,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the period. BlackRock Inc. raised its stake in Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the period. Capital World Investors raised its stake in Facebook by 1.5% during the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after acquiring an additional 833,810 shares during the period. Northern Trust Corp raised its stake in Facebook by 0.4% during the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after acquiring an additional 114,694 shares during the period. Finally, Jennison Associates LLC raised its stake in Facebook by 6.4% during the second quarter. Jennison Associates LLC now owns 20,336,932 shares of the social networking company’s stock worth $3,070,470,000 after acquiring an additional 1,219,412 shares during the period. 57.80% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $177.68, for a total transaction of $133,260.00. Following the completion of the sale, the vice president now directly owns 87,341 shares in the company, valued at $15,518,748.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jan Koum sold 594,246 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $179.35, for a total transaction of $106,578,020.10. The disclosure for this sale can be found here. Insiders have sold 1,548,013 shares of company stock valued at $278,500,923 over the last 90 days. 17.23% of the stock is currently owned by insiders.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.24. The business had revenue of $12.97 billion for the quarter, compared to analyst estimates of $12.58 billion. Facebook had a net margin of 39.16% and a return on equity of 26.49%. research analysts expect that Facebook Inc will post 7.22 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $210.00 price objective on shares of Facebook in a research note on Thursday, February 1st. KeyCorp restated an “overweight” rating and issued a $245.00 price target (up previously from $220.00) on shares of Facebook in a research note on Thursday, February 1st. Morningstar set a $198.00 price target on shares of Facebook and gave the company a “neutral” rating in a research note on Thursday, February 1st. Vetr lowered shares of Facebook from a “strong-buy” rating to a “buy” rating and set a $209.00 price target on the stock. in a research note on Tuesday, January 30th. Finally, Barclays raised their price target on shares of Facebook from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, forty-two have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $214.59.
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Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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