Huntington National Bank grew its holdings in Facebook, Inc. (NASDAQ:FB) by 2.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 302,491 shares of the social networking company’s stock after acquiring an additional 8,663 shares during the quarter. Facebook comprises 1.1% of Huntington National Bank’s investment portfolio, making the stock its 20th biggest holding. Huntington National Bank’s holdings in Facebook were worth $68,687,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Watson Rebecca purchased a new position in Facebook during the 2nd quarter worth approximately $25,000. JJJ Advisors Inc. grew its stake in Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after buying an additional 105 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Facebook during the 1st quarter worth approximately $41,000. Elmwood Wealth Management Inc. purchased a new position in Facebook during the 1st quarter worth approximately $46,000. Finally, NuWave Investment Management LLC grew its stake in Facebook by 1,019.2% during the 1st quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after buying an additional 265 shares during the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.
A number of research analysts recently issued reports on FB shares. Barclays raised their price target on Facebook from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday. Goldman Sachs Group restated a “buy” rating and set a $303.00 price target (up previously from $265.00) on shares of Facebook in a research note on Friday. Nomura lifted their target price on Facebook from $253.00 to $260.00 in a research note on Thursday, April 30th. Credit Suisse Group lifted their target price on Facebook from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Zacks Investment Research upgraded Facebook from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research note on Friday, June 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. Facebook currently has a consensus rating of “Buy” and a consensus target price of $273.37.
Facebook stock opened at $253.67 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The stock has a fifty day moving average of $235.27 and a two-hundred day moving average of $207.59. The company has a market capitalization of $722.73 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19. Facebook, Inc. has a fifty-two week low of $137.10 and a fifty-two week high of $255.85.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. On average, analysts forecast that Facebook, Inc. will post 7.4 EPS for the current fiscal year.
In other news, CAO Susan J.S. Taylor sold 1,195 shares of Facebook stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total value of $266,951.05. Following the completion of the sale, the chief accounting officer now owns 3,147 shares of the company’s stock, valued at $703,008.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $234.76, for a total value of $45,543.44. Following the completion of the sale, the vice president now directly owns 1,918 shares of the company’s stock, valued at approximately $450,269.68. The disclosure for this sale can be found here. Insiders have sold 68,591 shares of company stock valued at $14,894,825 in the last three months. 14.14% of the stock is currently owned by company insiders.
Facebook Company Profile
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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