Adirondack Trust Co. Cuts Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Adirondack Trust Co. trimmed its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,597 shares of the social networking company’s stock after selling 62 shares during the quarter. Adirondack Trust Co.’s holdings in Facebook were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of FB. Cantor Fitzgerald Investment Adviser L.P. bought a new stake in Facebook in the 2nd quarter valued at about $205,000. Executive Wealth Management LLC bought a new stake in Facebook in the 4th quarter valued at about $5,196,000. Green Square Asset Management LLC raised its stake in Facebook by 288.0% in the 2nd quarter. Green Square Asset Management LLC now owns 14,187 shares of the social networking company’s stock valued at $2,738,000 after acquiring an additional 10,531 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX raised its stake in Facebook by 1.7% in the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 12,236 shares of the social networking company’s stock valued at $2,362,000 after acquiring an additional 206 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in Facebook by 10.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 18,085 shares of the social networking company’s stock valued at $2,935,000 after acquiring an additional 1,641 shares during the period. 63.18% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on FB shares. Citigroup boosted their price objective on Facebook from $212.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. UBS Group restated a “buy” rating and issued a $240.00 price objective on shares of Facebook in a research note on Thursday, July 25th. Susquehanna Bancshares boosted their price objective on Facebook from $225.00 to $245.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Oppenheimer boosted their price objective on Facebook from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $260.00 price objective on shares of Facebook in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and forty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $220.81.

Shares of FB stock traded up $2.10 during trading on Wednesday, hitting $179.85. The company had a trading volume of 6,813,074 shares, compared to its average volume of 17,000,512. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $183.34 and its two-hundred day moving average is $184.99. The stock has a market capitalization of $512.53 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $208.66.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The company had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. Facebook’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 earnings per share. On average, research analysts predict that Facebook, Inc. will post 7.99 EPS for the current fiscal year.

In other Facebook news, CAO Susan J.S. Taylor sold 1,134 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $185.45, for a total value of $210,300.30. Following the completion of the sale, the chief accounting officer now owns 1,037 shares of the company’s stock, valued at $192,311.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter Thiel sold 22,246 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $182.00, for a total value of $4,048,772.00. Following the completion of the sale, the director now directly owns 9,948 shares of the company’s stock, valued at approximately $1,810,536. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,367,556 shares of company stock worth $621,502,913. 14.53% of the stock is owned by company insiders.

About Facebook

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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