Facebook, Inc. (NASDAQ:FB) is Roanoke Asset Management Corp NY’s 8th Largest Position

Roanoke Asset Management Corp NY increased its holdings in Facebook, Inc. (NASDAQ:FB) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,112 shares of the social networking company’s stock after acquiring an additional 245 shares during the quarter. Facebook makes up about 2.9% of Roanoke Asset Management Corp NY’s investment portfolio, making the stock its 8th largest position. Roanoke Asset Management Corp NY’s holdings in Facebook were worth $6,391,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Adviser L.P. bought a new position in Facebook in the second quarter worth about $205,000. Executive Wealth Management LLC bought a new position in Facebook in the fourth quarter worth about $5,196,000. Ruggie Capital Group raised its holdings in Facebook by 53.8% in the fourth quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock worth $58,000 after purchasing an additional 156 shares in the last quarter. Heritage Investors Management Corp raised its holdings in Facebook by 13.1% in the fourth quarter. Heritage Investors Management Corp now owns 36,210 shares of the social networking company’s stock worth $4,747,000 after purchasing an additional 4,190 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in Facebook in the fourth quarter worth about $80,000. 61.84% of the stock is owned by institutional investors.

In other news, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $180.08, for a total transaction of $135,060.00. Following the transaction, the vice president now owns 97,872 shares in the company, valued at approximately $17,624,789.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $181.10, for a total value of $9,960,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 355,292 shares of company stock worth $66,502,801. Insiders own 14.53% of the company’s stock.

A number of brokerages have commented on FB. Wedbush reiterated an “outperform” rating and issued a $220.00 target price on shares of Facebook in a report on Monday, July 22nd. Stifel Nicolaus restated a “hold” rating and set a $175.00 price objective (up previously from $155.00) on shares of Facebook in a report on Thursday, April 25th. Canaccord Genuity upped their price objective on shares of Facebook from $225.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Susquehanna Bancshares upped their price objective on shares of Facebook from $225.00 to $245.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Finally, SunTrust Banks restated a “buy” rating and set a $215.00 price objective on shares of Facebook in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and forty-three have issued a buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and a consensus price target of $219.67.

Facebook stock traded up $1.13 during mid-day trading on Thursday, hitting $195.36. The company had a trading volume of 8,278,120 shares, compared to its average volume of 15,517,565. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47. Facebook, Inc. has a 12-month low of $123.02 and a 12-month high of $208.66. The firm’s fifty day moving average is $194.71. The stock has a market cap of $559.31 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The business had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same quarter in the prior year, the firm posted $1.74 EPS. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, sell-side analysts expect that Facebook, Inc. will post 8.07 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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