TCI Wealth Advisors Inc. Sells 162 Shares of Facebook, Inc. (NASDAQ:FB)

TCI Wealth Advisors Inc. cut its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,222 shares of the social networking company’s stock after selling 162 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Facebook were worth $622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Global Trust Asset Management LLC increased its stake in Facebook by 2,286.3% in the second quarter. Global Trust Asset Management LLC now owns 2,792 shares of the social networking company’s stock valued at $539,000 after acquiring an additional 2,675 shares during the last quarter. Sanders Capital LLC increased its stake in Facebook by 3.3% in the second quarter. Sanders Capital LLC now owns 3,888,800 shares of the social networking company’s stock valued at $835,994,000 after acquiring an additional 122,900 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Facebook by 14.1% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,422 shares of the social networking company’s stock valued at $467,000 after acquiring an additional 300 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in Facebook by 2,135.2% in the second quarter. Reilly Financial Advisors LLC now owns 57,110 shares of the social networking company’s stock valued at $11,022,000 after acquiring an additional 54,555 shares during the last quarter. Finally, World Asset Management Inc increased its stake in Facebook by 3.0% in the second quarter. World Asset Management Inc now owns 162,239 shares of the social networking company’s stock valued at $31,312,000 after acquiring an additional 4,763 shares during the last quarter. 61.84% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the stock. Nomura lifted their price objective on shares of Facebook from $226.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America set a $224.00 price objective on shares of Facebook and gave the company a “buy” rating in a research note on Friday, July 19th. Credit Suisse Group lifted their price objective on shares of Facebook from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Cowen reissued an “outperform” rating and issued a $225.00 price objective (up from $195.00) on shares of Facebook in a research note on Thursday, April 25th. Finally, KeyCorp lifted their price objective on shares of Facebook from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $220.92.

Shares of NASDAQ:FB traded down $3.71 during mid-day trading on Friday, reaching $189.02. 15,284,654 shares of the company’s stock were exchanged, compared to its average volume of 16,766,467. The firm has a market cap of $550.15 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.13 and a beta of 0.99. The firm’s fifty day simple moving average is $195.36. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.08. Facebook, Inc. has a twelve month low of $123.02 and a twelve month high of $208.66.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.09. The company had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. Facebook’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 earnings per share. Sell-side analysts anticipate that Facebook, Inc. will post 7.96 EPS for the current fiscal year.

In other news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $189.39, for a total transaction of $142,042.50. Following the transaction, the vice president now owns 98,622 shares in the company, valued at $18,678,020.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO David B. Fischer sold 5,501 shares of Facebook stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $196.84, for a total transaction of $1,082,816.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 360,793 shares of company stock worth $67,585,618. 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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