M&G Investment Management Ltd. Has $2.68 Million Position in Facebook, Inc. (NASDAQ:FB)

M&G Investment Management Ltd. lessened its position in Facebook, Inc. (NASDAQ:FB) by 10.2% in the first quarter, Holdings Channel.com reports. The firm owned 9,071 shares of the social networking company’s stock after selling 1,035 shares during the quarter. M&G Investment Management Ltd.’s holdings in Facebook were worth $2,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FB. RBA Wealth Management LLC acquired a new stake in Facebook during the first quarter worth approximately $25,000. DB Wealth Management Group LLC acquired a new stake in Facebook during the fourth quarter worth approximately $27,000. Klaas Financial Asset Advisors LLC acquired a new stake in Facebook during the fourth quarter worth approximately $27,000. Litman Gregory Asset Management LLC acquired a new stake in Facebook during the fourth quarter worth approximately $27,000. Finally, ADE LLC bought a new position in Facebook in the fourth quarter worth approximately $27,000. 65.63% of the stock is owned by institutional investors and hedge funds.

Facebook stock opened at $332.46 on Friday. The stock has a market cap of $942.68 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.27 and a beta of 1.30. The stock has a 50 day moving average of $315.72. Facebook, Inc. has a twelve month low of $207.11 and a twelve month high of $338.30.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, April 28th. The social networking company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.94. The firm had revenue of $26.20 billion for the quarter, compared to analysts’ expectations of $23.61 billion. Facebook had a return on equity of 27.54% and a net margin of 35.74%. The company’s revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 EPS. On average, research analysts forecast that Facebook, Inc. will post 13.18 EPS for the current year.

In other news, CFO David M. Wehner sold 678 shares of the firm’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $289.99, for a total transaction of $196,613.22. Following the completion of the transaction, the chief financial officer now owns 34,425 shares in the company, valued at $9,982,905.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $330.13, for a total value of $25,519,049.00. The disclosure for this sale can be found here. Insiders sold a total of 2,031,403 shares of company stock valued at $632,050,379 over the last 90 days. 14.01% of the stock is currently owned by company insiders.

FB has been the topic of a number of recent research reports. Barclays raised their target price on Facebook from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Raymond James lifted their price target on Facebook from $360.00 to $415.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 29th. They noted that the move was a valuation call. Mizuho lifted their price target on Facebook from $350.00 to $400.00 in a report on Thursday, April 29th. MKM Partners lifted their price target on Facebook from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. Finally, Robert W. Baird raised their target price on Facebook from $320.00 to $340.00 in a research report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $370.93.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used 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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