Marks Group Wealth Management Inc Sells 1,891 Shares of Facebook, Inc. (NASDAQ:FB)

Marks Group Wealth Management Inc lessened its stake in Facebook, Inc. (NASDAQ:FB) by 4.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,314 shares of the social networking company’s stock after selling 1,891 shares during the period. Facebook accounts for 1.7% of Marks Group Wealth Management Inc’s portfolio, making the stock its 4th biggest holding. Marks Group Wealth Management Inc’s holdings in Facebook were worth $12,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FB. Factorial Partners LLC bought a new position in Facebook in the 1st quarter valued at about $12,300,000. Price T Rowe Associates Inc. MD grew its position in Facebook by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 104,548,050 shares of the social networking company’s stock valued at $30,792,537,000 after buying an additional 2,802,398 shares in the last quarter. Sanders Capital LLC grew its position in Facebook by 34.8% in the 1st quarter. Sanders Capital LLC now owns 9,213,078 shares of the social networking company’s stock valued at $2,948,108,000 after buying an additional 2,380,105 shares in the last quarter. Lone Pine Capital LLC grew its position in Facebook by 58.4% in the 1st quarter. Lone Pine Capital LLC now owns 5,662,359 shares of the social networking company’s stock valued at $1,667,735,000 after buying an additional 2,086,813 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Facebook by 40.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,997,228 shares of the social networking company’s stock valued at $1,471,834,000 after purchasing an additional 1,437,368 shares in the last quarter. Hedge funds and other institutional investors own 65.72% of the company’s stock.

FB traded down $4.52 during trading hours on Wednesday, reaching $372.01. The company’s stock had a trading volume of 683,785 shares, compared to its average volume of 17,312,885. Facebook, Inc. has a 52 week low of $244.13 and a 52 week high of $384.33. The company’s 50-day moving average is $362.49 and its 200-day moving average is $328.99. The firm has a market cap of $1.05 trillion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.29.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.03 by $0.58. Facebook had a return on equity of 30.09% and a net margin of 37.17%. Analysts predict that Facebook, Inc. will post 14.1 EPS for the current year.

In other Facebook news, VP Jennifer Newstead sold 250 shares of the company’s stock in a transaction on Tuesday, June 22nd. The stock was sold at an average price of $332.96, for a total value of $83,240.00. Following the transaction, the vice president now directly owns 8,640 shares of the company’s stock, valued at approximately $2,876,774.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Susan J.S. Taylor sold 1,378 shares of the company’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $356.10, for a total value of $490,705.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,506,590 shares of company stock worth $895,659,803. 14.01% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on FB shares. Wedbush restated a “neutral” rating and set a $355.00 price objective on shares of Facebook in a research report on Thursday, July 29th. Morgan Stanley raised their price objective on shares of Facebook from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Evercore ISI increased their price target on Facebook from $400.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Truist Securities increased their price target on Facebook from $400.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Finally, Cowen raised their price objective on shares of Facebook from $400.00 to $415.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $403.98.

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.

See Also: What is a conference call?

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook and related companies with MarketBeat.com's FREE daily email newsletter.