Taikang Asset Management Hong Kong Co Ltd increased its stake in Facebook, Inc. (NASDAQ:FB) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,579 shares of the social networking company’s stock after acquiring an additional 1,168 shares during the period. Facebook makes up 0.7% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its 29th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Facebook were worth $4,722,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baldrige Asset Management LLC acquired a new stake in shares of Facebook in the second quarter worth approximately $31,000. Baron Financial Group LLC boosted its position in shares of Facebook by 71.4% in the first quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock worth $35,000 after acquiring an additional 50 shares during the last quarter. Paragon Wealth Strategies LLC acquired a new stake in shares of Facebook in the second quarter worth approximately $46,000. Horan Securities Inc. boosted its position in shares of Facebook by 309.1% in the second quarter. Horan Securities Inc. now owns 135 shares of the social networking company’s stock worth $47,000 after acquiring an additional 102 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Facebook by 43.1% in the first quarter. Cranbrook Wealth Management LLC now owns 156 shares of the social networking company’s stock worth $46,000 after acquiring an additional 47 shares during the last quarter. 65.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ FB traded down $3.03 during midday trading on Monday, reaching $375.66. 238,974 shares of the company traded hands, compared to its average volume of 17,387,549. Facebook, Inc. has a 52 week low of $244.13 and a 52 week high of $384.33. The stock has a 50-day moving average price of $361.58 and a 200 day moving average price of $327.29. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.19 and a beta of 1.29.

Facebook (NASDAQ:FB) last issued its quarterly earnings data 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 net margin of 37.17% and a return on equity of 30.09%. As a group, equities analysts anticipate that Facebook, Inc. will post 14.1 earnings per share for the current fiscal year.

In related news, CFO David M. Wehner sold 1,545 shares of Facebook stock in a transaction dated Sunday, August 15th. The stock was sold at an average price of $363.18, for a total value of $561,113.10. Following the transaction, the chief financial officer now owns 27,321 shares of the company’s stock, valued at approximately $9,922,440.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 77,300 shares of Facebook stock in a transaction dated Monday, June 21st. The stock was sold at an average price of $331.23, for a total value of $25,604,079.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,506,840 shares of company stock worth $892,076,939. 14.01% of the stock is owned by company insiders.

FB has been the topic of several research reports. KeyCorp raised their price target on shares of Facebook from $414.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Morgan Stanley raised their price target on shares of Facebook from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Credit Suisse Group raised their price target on shares of Facebook from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. JPMorgan Chase & Co. set a $450.00 price target on shares of Facebook in a report on Thursday, July 29th. Finally, JMP Securities lifted their price objective on shares of Facebook from $395.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. One investment 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.com, the stock has a consensus rating of “Buy” and a consensus price target of $403.98.

Facebook 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.

Recommended Story: What is a trade deficit?

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.

 

Original Source