Facebook, Inc. (FB) Position Raised by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. boosted its stake in Facebook, Inc. (NASDAQ:FB) by 1.2% in the third quarter, HoldingsChannel.com reports. The firm owned 92,051 shares of the social networking company’s stock after acquiring an additional 1,061 shares during the quarter. Facebook comprises about 2.0% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 18th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Facebook were worth $15,139,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FB. Academy Capital Management Inc. TX purchased a new position in Facebook during the 2nd quarter valued at about $14,790,000. Parsec Financial Management Inc. increased its holdings in Facebook by 14.4% during the 2nd quarter. Parsec Financial Management Inc. now owns 39,126 shares of the social networking company’s stock valued at $7,603,000 after purchasing an additional 4,912 shares during the period. Sterling Investment Advisors Ltd. increased its holdings in Facebook by 9.6% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 4,121 shares of the social networking company’s stock valued at $800,000 after purchasing an additional 360 shares during the period. Klingenstein Fields & Co. LLC increased its holdings in Facebook by 1.9% during the 2nd quarter. Klingenstein Fields & Co. LLC now owns 194,435 shares of the social networking company’s stock valued at $37,782,000 after purchasing an additional 3,668 shares during the period. Finally, ACG Wealth purchased a new position in Facebook during the 2nd quarter valued at about $8,797,000. Hedge funds and other institutional investors own 60.49% of the company’s stock.

NASDAQ FB opened at $167.33 on Monday. The firm has a market cap of $486.09 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $218.62.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 30th. The social networking company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.20. The business had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.40 billion. Facebook had a net margin of 39.60% and a return on equity of 27.51%. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 earnings per share. Equities analysts anticipate that Facebook, Inc. will post 7.55 EPS for the current fiscal year.

A number of research analysts have weighed in on the company. Aegis upped their target price on Facebook from $206.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Stifel Nicolaus dropped their price target on Facebook from $202.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. BidaskClub raised Facebook from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 11th. lowered their price objective on Facebook from $205.00 to $192.00 and set a “buy” rating on the stock in a research report on Monday, October 15th. Finally, Rosenblatt Securities started coverage on Facebook in a research report on Tuesday, October 16th. They issued a “buy” rating and a $213.00 price objective on the stock. Four analysts have rated the stock with a sell rating, seven have given a hold rating and forty have issued a buy rating to the company. Facebook currently has a consensus rating of “Buy” and an average target price of $190.62.

In related news, insider Christopher K. Cox sold 5,300 shares of the company’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $150.00, for a total transaction of $795,000.00. Following the completion of the sale, the insider now owns 58,484 shares of the company’s stock, valued at approximately $8,772,600. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $171.21, for a total transaction of $128,407.50. Following the sale, the vice president now directly owns 93,930 shares of the company’s stock, valued at approximately $16,081,755.30. The disclosure for this sale can be found here. Insiders have sold 453,313 shares of company stock valued at $63,751,782 in the last three months. Corporate insiders own 16.25% of the company’s stock.

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About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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