ERTS Wealth Advisors LLC Raises Position in Facebook, Inc. (NASDAQ:FB)
ERTS Wealth Advisors LLC raised its holdings in Facebook, Inc. (NASDAQ:FB) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,996 shares of the social networking company’s stock after acquiring an additional 122 shares during the quarter. ERTS Wealth Advisors LLC’s holdings in Facebook were worth $578,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Cantor Fitzgerald Investment Adviser L.P. acquired a new stake in shares of Facebook in the 2nd quarter valued at $205,000. Executive Wealth Management LLC acquired a new stake in Facebook during the 4th quarter worth $5,196,000. Fiduciary Financial Services of The Southwest Inc. TX raised its stake in Facebook by 1.7% during the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 12,236 shares of the social networking company’s stock worth $2,362,000 after acquiring an additional 206 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in Facebook by 10.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 18,085 shares of the social networking company’s stock worth $2,935,000 after acquiring an additional 1,641 shares in the last quarter. Finally, Eastern Bank raised its stake in Facebook by 16.4% during the 2nd quarter. Eastern Bank now owns 99,117 shares of the social networking company’s stock worth $19,130,000 after acquiring an additional 13,934 shares in the last quarter. 63.60% of the stock is owned by institutional investors.
FB stock traded down $0.23 during trading on Friday, reaching $187.24. 1,630,154 shares of the company were exchanged, compared to its average volume of 11,753,617. The company has a market cap of $531.13 billion, a P/E ratio of 24.73, a PEG ratio of 1.08 and a beta of 1.01. Facebook, Inc. has a 52-week low of $123.02 and a 52-week high of $208.66. The stock’s 50 day moving average price is $187.42 and its 200 day moving average price is $182.81. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.47 and a current ratio of 4.47.
FB has been the topic of several research analyst reports. Citigroup lifted their price target on shares of Facebook from $212.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. KeyCorp raised their price objective on shares of Facebook from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Pivotal Research reissued a “buy” rating and set a $225.00 price objective (up from $220.00) on shares of Facebook in a research report on Thursday, July 25th. Royal Bank of Canada reissued a “buy” rating and set a $260.00 price objective on shares of Facebook in a research report on Thursday, July 25th. Finally, BMO Capital Markets lowered their price objective on shares of Facebook to $195.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $220.92.
In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $200.81, for a total transaction of $11,044,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 237,823 shares of Facebook stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $182.75, for a total transaction of $43,462,153.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,244,072 shares of company stock worth $416,434,607. 14.53% of the stock is owned by insiders.
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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