Tributary Capital Management LLC Trims Stake in Facebook, Inc. (NASDAQ:FB)

Tributary Capital Management LLC cut its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 18.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the social networking company’s stock after selling 2,100 shares during the period. Tributary Capital Management LLC’s holdings in Facebook were worth $1,359,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FB. Mutual of America Capital Management LLC lifted its position in shares of Facebook by 2.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after acquiring an additional 6,740 shares in the last quarter. Grand Jean Capital Management Inc. lifted its position in shares of Facebook by 14.3% in the 1st quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after acquiring an additional 15,910 shares in the last quarter. Altfest L J & Co. Inc. lifted its position in shares of Facebook by 0.9% in the 2nd quarter. Altfest L J & Co. Inc. now owns 13,477 shares of the social networking company’s stock valued at $2,035,000 after acquiring an additional 116 shares in the last quarter. Segment Wealth Management LLC increased its stake in Facebook by 157.5% in the 1st quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock valued at $1,042,000 after buying an additional 4,485 shares during the period. Finally, Howard Capital Management increased its stake in Facebook by 2.8% in the 1st quarter. Howard Capital Management now owns 134,712 shares of the social networking company’s stock valued at $19,136,000 after buying an additional 3,726 shares during the period. 57.30% of the stock is owned by institutional investors and hedge funds.

In other Facebook news, VP David B. Fischer sold 50,533 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $169.95, for a total value of $8,588,083.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $173.58, for a total value of $130,185.00. Following the completion of the sale, the vice president now owns 94,091 shares of the company’s stock, valued at approximately $16,332,315.78. The disclosure for this sale can be found here. In the last three months, insiders sold 13,109,908 shares of company stock worth $2,140,922,321. 19.08% of the stock is owned by corporate insiders.

FB has been the topic of several research reports. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and set a $200.00 price target (up previously from $170.00) on shares of Facebook in a research note on Thursday, July 27th. Wedbush restated a “buy” rating on shares of Facebook in a research note on Thursday, July 27th. Macquarie set a $175.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Monday, July 24th. Finally, Aegis restated a “buy” rating on shares of Facebook in a research note on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have issued a buy rating and three have given a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and a consensus price target of $183.74.

Shares of Facebook, Inc. (NASDAQ:FB) traded up 0.40% during midday trading on Friday, hitting $171.64. The stock had a trading volume of 15,660,539 shares. The stock’s 50-day moving average is $170.10 and its 200-day moving average is $153.80. Facebook, Inc. has a 12 month low of $113.55 and a 12 month high of $175.49. The stock has a market cap of $406.84 billion, a PE ratio of 38.40 and a beta of 0.76.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. Equities analysts anticipate that Facebook, Inc. will post $5.33 EPS for the current year.

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Facebook Company Profile

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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