Patriot Financial Group Insurance Agency LLC Raises Position in Facebook, Inc. (NASDAQ:FB)

Patriot Financial Group Insurance Agency LLC boosted its stake in Facebook, Inc. (NASDAQ:FB) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,566 shares of the social networking company’s stock after buying an additional 424 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Facebook were worth $891,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cordasco Financial Network increased its stake in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares in the last quarter. Whitnell & Co. bought a new position in shares of Facebook during the fourth quarter valued at approximately $26,000. Clean Yield Group bought a new position in shares of Facebook during the second quarter valued at approximately $39,000. Litman Gregory Asset Management LLC bought a new position in shares of Facebook during the second quarter valued at approximately $41,000. Finally, Spectrum Management Group Inc. increased its stake in shares of Facebook by 135.3% during the second quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock valued at $46,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 62.44% of the company’s stock.

NASDAQ:FB traded down $4.29 during trading hours on Friday, reaching $177.75. The company had a trading volume of 14,354,973 shares, compared to its average volume of 14,590,069. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $208.66. The firm has a market cap of $519.35 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.06 and a beta of 0.99. The firm’s 50 day moving average price is $193.38 and its 200-day moving average price is $180.93.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion for the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 EPS. On average, analysts forecast that Facebook, Inc. will post 8.03 earnings per share for the current fiscal year.

In other news, CAO Susan J.S. Taylor sold 1,134 shares of Facebook stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total transaction of $210,300.30. Following the transaction, the chief accounting officer now owns 1,037 shares in the company, valued at approximately $192,311.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $182.63, for a total transaction of $10,044,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,337,995 shares of company stock worth $248,254,692 in the last quarter. Corporate insiders own 14.53% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Nomura raised their price target on shares of Facebook from $226.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Credit Suisse Group raised their price target on shares of Facebook from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Mizuho raised their price target on shares of Facebook from $230.00 to $247.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets reduced their price target on shares of Facebook to $195.00 and set a “market perform” rating for the company in a research report on Tuesday, July 23rd. Finally, UBS Group reissued a “buy” rating and set a $240.00 price target on shares of Facebook in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $220.92.

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.

Featured Story: What defines an oversold asset?

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

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.