Beach Investment Counsel Inc. PA Reduces Holdings in Facebook Inc (FB)

Beach Investment Counsel Inc. PA cut its holdings in Facebook Inc (NASDAQ:FB) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,785 shares of the social networking company’s stock after selling 9,845 shares during the quarter. Facebook comprises about 2.0% of Beach Investment Counsel Inc. PA’s investment portfolio, making the stock its 11th biggest holding. Beach Investment Counsel Inc. PA’s holdings in Facebook were worth $19,101,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hartford Financial Management Inc. raised its holdings in Facebook by 1.1% during the 2nd quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock worth $224,000 after buying an additional 16 shares during the period. Regal Investment Advisors LLC raised its holdings in Facebook by 0.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock worth $876,000 after buying an additional 18 shares during the period. Halbert Hargrove Russell LLC raised its holdings in Facebook by 0.5% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock worth $526,000 after buying an additional 19 shares during the period. Dumont & Blake Investment Advisors LLC raised its holdings in Facebook by 2.1% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock worth $222,000 after buying an additional 30 shares during the period. Finally, Aspen Investment Management Inc raised its holdings in Facebook by 0.4% during the 2nd quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock worth $1,044,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

In other Facebook news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $176.23, for a total transaction of $132,172.50. Following the completion of the sale, the vice president now owns 82,096 shares of the company’s stock, valued at $14,467,778.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $172.89, for a total value of $2,766,240.00. The disclosure for this sale can be found here. Insiders have sold 4,568,712 shares of company stock valued at $818,756,804 in the last ninety days. Company insiders own 17.23% of the company’s stock.

Several analysts have issued reports on FB shares. Cowen restated an “average” rating and set a $200.00 price objective (up previously from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Wells Fargo & Co set a $215.00 price objective on Facebook and gave the stock a “buy” rating in a report on Friday, October 6th. Needham & Company LLC restated a “buy” rating and set a $185.00 price objective on shares of Facebook in a report on Thursday, October 5th. KeyCorp restated a “buy” rating and set a $200.00 price objective on shares of Facebook in a report on Wednesday, October 4th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $190.00 price objective on shares of Facebook in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. Facebook has an average rating of “Buy” and an average target price of $201.37.

Shares of Facebook Inc (NASDAQ:FB) opened at $181.42 on Wednesday. The company has a market capitalization of $527,170.00, a P/E ratio of 33.72, a P/E/G ratio of 1.12 and a beta of 0.69. Facebook Inc has a 12 month low of $115.51 and a 12 month high of $184.25.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. equities analysts anticipate that Facebook Inc will post 5.86 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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