Congress Asset Management Co. MA Sells 2,903 Shares of Facebook, Inc. (FB)

Congress Asset Management Co. MA lessened its stake in shares of Facebook, Inc. (NASDAQ:FB) by 8.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,884 shares of the social networking company’s stock after selling 2,903 shares during the quarter. Congress Asset Management Co. MA’s holdings in Facebook were worth $4,049,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FB. Contravisory Investment Management Inc. grew its position in Facebook by 153.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 200 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 121 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in Facebook in the 4th quarter valued at $31,000. Accurate Investment Solutions Inc. grew its position in Facebook by 35.6% in the 4th quarter. Accurate Investment Solutions Inc. now owns 453 shares of the social networking company’s stock valued at $59,000 after acquiring an additional 119 shares during the last quarter. Norway Savings Bank grew its position in Facebook by 28.5% in the 4th quarter. Norway Savings Bank now owns 451 shares of the social networking company’s stock valued at $59,000 after acquiring an additional 100 shares during the last quarter. Finally, New Capital Management LP grew its position in Facebook by 666.7% in the 4th quarter. New Capital Management LP now owns 575 shares of the social networking company’s stock valued at $75,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 60.24% of the company’s stock.

In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $179.60, for a total value of $134,700.00. Following the completion of the transaction, the vice president now directly owns 100,872 shares in the company, valued at $18,116,611.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Susan J.S. Taylor sold 1,442 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $162.02, for a total value of $233,632.84. Following the completion of the transaction, the chief accounting officer now owns 1,569 shares of the company’s stock, valued at $254,209.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,539,435 shares of company stock valued at $269,965,163. 14.53% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on FB shares. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $149.00 price target on the stock in a research report on Wednesday, January 2nd. Goldman Sachs Group reissued a “buy” rating and set a $195.00 price target on shares of Facebook in a research report on Wednesday, January 16th. Citigroup reissued a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Facebook in a research report on Thursday, January 31st. Wedbush dropped their price target on Facebook to $200.00 and set a “buy” rating on the stock in a research report on Monday, February 4th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $195.00 price target on shares of Facebook in a research report on Tuesday, January 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $206.26.

Facebook stock opened at $193.26 on Friday. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62. The stock has a market capitalization of $533.88 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.34 and a beta of 0.88.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.80). Facebook had a net margin of 39.60% and a return on equity of 27.51%. The business had revenue of $15.08 billion during the quarter, compared to analysts’ expectations of $14.97 billion. During the same quarter last year, the business posted $1.69 earnings per share. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts predict that Facebook, Inc. will post 7.55 EPS for the current year.

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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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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