Gruss & Co. Inc. raised its position in shares of Facebook Inc. (NASDAQ:FB) by 4.9% during the second quarter, Holdings Channel reports. The fund owned 42,500 shares of the social networking company’s stock after buying an additional 2,000 shares during the period. Facebook comprises 5.9% of Gruss & Co. Inc.’s portfolio, making the stock its 6th largest position. Gruss & Co. Inc.’s holdings in Facebook were worth $4,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quotient Investors LLC increased its stake in shares of Facebook by 69.1% in the first quarter. Quotient Investors LLC now owns 12,999 shares of the social networking company’s stock valued at $1,483,000 after buying an additional 5,313 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Facebook by 109.9% in the first quarter. Manning & Napier Advisors LLC now owns 2,479,475 shares of the social networking company’s stock valued at $282,906,000 after buying an additional 1,298,408 shares during the last quarter. Eastern Bank increased its stake in shares of Facebook by 572.0% in the first quarter. Eastern Bank now owns 96,775 shares of the social networking company’s stock valued at $11,042,000 after buying an additional 82,375 shares during the last quarter. Osborne Partners Capital Management LLC increased its stake in shares of Facebook by 3.6% in the first quarter. Osborne Partners Capital Management LLC now owns 2,900 shares of the social networking company’s stock valued at $331,000 after buying an additional 100 shares during the last quarter. Finally, RNC Capital Management LLC purchased a new stake in shares of Facebook during the first quarter valued at about $364,000. 56.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Facebook Inc. (NASDAQ:FB) traded up 0.17% during mid-day trading on Thursday, hitting $130.16. 9,304,465 shares of the company traded hands. The firm has a market cap of $373.78 billion, a price-to-earnings ratio of 62.22 and a beta of 0.76. The firm has a 50-day moving average price of $126.13 and a 200 day moving average price of $118.12. Facebook Inc. has a 52-week low of $85.72 and a 52-week high of $131.98.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. The business earned $6.44 billion during the quarter, compared to analyst estimates of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The business’s revenue was up 59.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Equities research analysts anticipate that Facebook Inc. will post $3.94 EPS for the current fiscal year.

FB has been the topic of a number of research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $170.00 target price on shares of Facebook in a research report on Friday, September 9th. Robert W. Baird reaffirmed an “outperform” rating and set a $155.00 target price on shares of Facebook in a research report on Tuesday, September 6th. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $134.63 target price on the stock. in a research report on Tuesday, September 6th. Morgan Stanley raised their target price on shares of Facebook from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 7th. Finally, Citigroup Inc. raised their target price on shares of Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-three have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $149.45.

In other news, Director Susan Desmond-Hellmann sold 625 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $124.01, for a total transaction of $77,506.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Cox sold 15,600 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $109.68, for a total transaction of $1,711,008.00. Following the transaction, the insider now owns 391,186 shares of the company’s stock, valued at approximately $42,905,280.48. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by corporate insiders.

Facebook Company Profile

Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

5 Day Chart for NASDAQ:FB

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