Korea Investment CORP Has $510.57 Million Position in Facebook, Inc. (NASDAQ:FB)

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Korea Investment CORP reduced its position in Facebook, Inc. (NASDAQ:FB) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,869,121 shares of the social networking company’s stock after selling 120,673 shares during the quarter. Facebook comprises about 1.5% of Korea Investment CORP’s portfolio, making the stock its 5th largest position. Korea Investment CORP owned about 0.07% of Facebook worth $510,569,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Facebook by 0.6% in the fourth quarter. BlackRock Inc. now owns 159,655,331 shares of the social networking company’s stock worth $43,611,449,000 after acquiring an additional 910,971 shares during the last quarter. Morgan Stanley increased its position in Facebook by 5.5% during the 3rd quarter. Morgan Stanley now owns 21,019,784 shares of the social networking company’s stock worth $5,505,081,000 after purchasing an additional 1,098,694 shares in the last quarter. Alliancebernstein L.P. increased its position in Facebook by 1.9% during the 4th quarter. Alliancebernstein L.P. now owns 19,999,781 shares of the social networking company’s stock worth $5,463,140,000 after purchasing an additional 367,313 shares in the last quarter. Jennison Associates LLC lifted its stake in Facebook by 1.0% in the 4th quarter. Jennison Associates LLC now owns 15,909,854 shares of the social networking company’s stock valued at $4,345,936,000 after purchasing an additional 153,953 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Facebook by 15.0% in the third quarter. UBS Asset Management Americas Inc. now owns 12,282,314 shares of the social networking company’s stock valued at $3,216,738,000 after buying an additional 1,598,856 shares in the last quarter. Institutional investors own 64.95% of the company’s stock.

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FB traded up $3.96 during midday trading on Monday, reaching $261.58. The company had a trading volume of 752,703 shares, compared to its average volume of 19,760,207. Facebook, Inc. has a 12-month low of $137.10 and a 12-month high of $304.67. The business has a 50-day moving average price of $264.82 and a two-hundred day moving average price of $270.30. The stock has a market cap of $744.89 billion, a PE ratio of 29.68, a P/E/G ratio of 1.29 and a beta of 1.18.

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Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, January 27th. The social networking company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.64. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The business had revenue of $28.10 million during the quarter, compared to analyst estimates of $26.43 billion. During the same period in the prior year, the company earned $2.56 earnings per share. Facebook’s revenue was up 33.2% compared to the same quarter last year. Analysts anticipate that Facebook, Inc. will post 9.39 EPS for the current year.

In related news, VP Jennifer Newstead sold 310 shares of the stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $286.23, for a total transaction of $88,731.30. Following the sale, the vice president now owns 2,812 shares of the company’s stock, valued at approximately $804,878.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 44,750 shares of the firm’s stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $251.61, for a total value of $11,259,547.50. The disclosure for this sale can be found here. Insiders have sold 1,336,715 shares of company stock valued at $360,066,132 in the last quarter. Company insiders own 14.14% of the company’s stock.

A number of equities research analysts recently weighed in on FB shares. Oppenheimer boosted their price objective on Facebook from $345.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Evercore ISI boosted their price target on Facebook from $355.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. BMO Capital Markets raised their price objective on shares of Facebook from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, January 28th. Citigroup lifted their target price on shares of Facebook from $315.00 to $320.00 in a research report on Monday, February 1st. Finally, Raymond James upped their price target on shares of Facebook from $320.00 to $360.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $323.98.

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.

Korea Investment CORP Has $510.57 Million Position in Facebook, Inc. (NASDAQ:FB)

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