Welch Capital Partners LLC NY Has $9.86 Million Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Welch Capital Partners LLC NY reduced its position in Facebook, Inc. (NASDAQ:FB) by 0.7% in the second quarter, HoldingsChannel.com reports. The firm owned 28,360 shares of the social networking company’s stock after selling 201 shares during the period. Facebook accounts for approximately 2.3% of Welch Capital Partners LLC NY’s investment portfolio, making the stock its 10th biggest holding. Welch Capital Partners LLC NY’s holdings in Facebook were worth $9,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Baldrige Asset Management LLC bought a new position in Facebook during the 2nd quarter worth about $31,000. Baron Financial Group LLC boosted its stake in Facebook by 71.4% in the 1st quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. Paragon Wealth Strategies LLC purchased a new position in Facebook during the 2nd quarter worth approximately $46,000. Horan Securities Inc. raised its position in Facebook by 309.1% during the 2nd quarter. Horan Securities Inc. now owns 135 shares of the social networking company’s stock worth $47,000 after buying an additional 102 shares during the last quarter. Finally, Financial Insights Inc. purchased a new position in shares of Facebook during the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 65.72% of the company’s stock.

Shares of NASDAQ:FB traded up $3.43 during trading on Thursday, hitting $327.97. 352,419 shares of the company were exchanged, compared to its average volume of 22,509,820. The business’s 50 day moving average is $358.25 and its 200-day moving average is $338.90. The company has a market capitalization of $924.70 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. Facebook, Inc. has a 1-year low of $244.61 and a 1-year high of $384.33.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.58. Facebook had a net margin of 37.17% and a return on equity of 30.09%. The company had revenue of $29.08 billion during the quarter, compared to the consensus estimate of $27.93 billion. On average, equities research analysts expect that Facebook, Inc. will post 14.11 EPS for the current year.

In other Facebook news, insider Jennifer Newstead sold 125 shares of the company’s stock in a transaction on Tuesday, September 28th. The shares were sold at an average price of $347.98, for a total transaction of $43,497.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Susan J.S. Taylor sold 1,378 shares of the company’s stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of $356.10, for a total transaction of $490,705.80. The disclosure for this sale can be found here. In the last three months, insiders sold 2,481,633 shares of company stock worth $890,771,287. 14.01% of the stock is currently owned by insiders.

FB has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Facebook in a research note on Monday, September 13th. They issued a “buy” rating and a $455.00 price target on the stock. Wedbush reissued a “neutral” rating and issued a $355.00 price target on shares of Facebook in a research note on Thursday, July 29th. Wells Fargo & Company lifted their target price on shares of Facebook from $415.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Robert W. Baird lifted their target price on shares of Facebook from $340.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Finally, DZ Bank cut shares of Facebook from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Tuesday, October 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $406.31.

Facebook Company Profile

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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