Summit Financial Wealth Advisors LLC Grows Stock Holdings in Facebook, Inc. (NASDAQ:FB)

Summit Financial Wealth Advisors LLC raised its position in shares of Facebook, Inc. (NASDAQ:FB) by 3.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,246 shares of the social networking company’s stock after purchasing an additional 83 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Facebook were worth $433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of Facebook by 13,908.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 70,768,412 shares of the social networking company’s stock worth $540,000 after buying an additional 70,263,213 shares during the period. Thoroughbred Financial Services LLC increased its holdings in shares of Facebook by 19,805.8% in the second quarter. Thoroughbred Financial Services LLC now owns 2,264,083 shares of the social networking company’s stock worth $226,408,000 after buying an additional 2,252,709 shares during the period. Sanders Capital LLC increased its holdings in shares of Facebook by 132.5% in the fourth quarter. Sanders Capital LLC now owns 3,564,800 shares of the social networking company’s stock worth $522,620,000 after buying an additional 2,031,500 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Facebook by 410.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,042,943 shares of the social networking company’s stock worth $267,809,000 after buying an additional 1,642,441 shares during the period. Finally, Flossbach Von Storch AG increased its stake in Facebook by 49.5% in the 4th quarter. Flossbach Von Storch AG now owns 4,139,622 shares of the social networking company’s stock worth $542,663,000 after purchasing an additional 1,370,767 shares during the period. Institutional investors and hedge funds own 61.84% of the company’s stock.

A number of brokerages have commented on FB. JMP Securities lifted their price target on Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Canaccord Genuity lifted their target price on shares of Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. BidaskClub downgraded shares of Facebook from a “buy” rating to a “hold” rating in a research note on Tuesday. Monness Crespi & Hardt lifted their target price on shares of Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, China Renaissance Securities assumed coverage on shares of Facebook in a research note on Wednesday, May 29th. They issued a “buy” rating and a $245.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and forty-two have given a buy rating to the stock. Facebook presently has a consensus rating of “Buy” and a consensus target price of $220.92.

Shares of FB stock traded down $3.71 during midday trading on Friday, reaching $189.02. 15,284,654 shares of the stock were exchanged, compared to its average volume of 15,877,616. Facebook, Inc. has a 1 year low of $123.02 and a 1 year high of $208.66. The company has a 50 day simple moving average of $195.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.47 and a current ratio of 4.47. The firm has a market cap of $554.43 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.12 and a beta of 0.99.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.09. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The firm had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. During the same quarter in the prior year, the business earned $1.74 EPS. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, research analysts forecast that Facebook, Inc. will post 7.96 earnings per share for the current fiscal year.

In other news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $189.39, for a total value of $142,042.50. Following the sale, the vice president now directly owns 98,622 shares of the company’s stock, valued at approximately $18,678,020.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Wehner sold 10,748 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $184.50, for a total transaction of $1,983,006.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,793 shares of company stock worth $67,585,618. 14.53% of the stock is owned by insiders.

About Facebook

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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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