Cambridge Financial Group Inc. lessened its stake in Facebook Inc (NASDAQ:FB) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,961 shares of the social networking company’s stock after selling 3,041 shares during the period. Facebook accounts for about 3.5% of Cambridge Financial Group Inc.’s portfolio, making the stock its 9th largest position. Cambridge Financial Group Inc.’s holdings in Facebook were worth $6,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Facebook by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after buying an additional 5,151,190 shares during the period. BlackRock Inc. increased its position in Facebook by 3.0% during the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after purchasing an additional 4,032,727 shares during the period. State Street Corp increased its position in Facebook by 1.7% during the 1st quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after purchasing an additional 1,536,158 shares during the period. Capital World Investors increased its position in Facebook by 1.5% during the 2nd quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock valued at $8,578,347,000 after purchasing an additional 833,810 shares during the period. Finally, Northern Trust Corp increased its position in Facebook by 0.4% during the 2nd quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock valued at $3,994,161,000 after purchasing an additional 114,694 shares during the period. 57.86% of the stock is currently owned by institutional investors.

Shares of Facebook Inc (NASDAQ:FB) opened at $176.96 on Wednesday. The company has a market cap of $514,070.00, a P/E ratio of 34.49, a P/E/G ratio of 1.14 and a beta of 0.69. Facebook Inc has a 12 month low of $114.77 and a 12 month high of $184.25.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. Facebook’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. research analysts expect that Facebook Inc will post 5.86 EPS for the current year.

In other Facebook news, VP David B. Fischer sold 16,621 shares of Facebook stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $183.51, for a total transaction of $3,050,119.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $176.85, for a total transaction of $2,829,600.00. Following the sale, the insider now owns 48,407 shares of the company’s stock, valued at $8,560,777.95. The disclosure for this sale can be found here. Insiders sold a total of 5,027,649 shares of company stock valued at $896,849,901 over the last quarter. 17.23% of the stock is owned by company insiders.

A number of research firms have commented on FB. Vetr raised shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $198.52 target price on the stock in a research report on Wednesday. Wells Fargo & Company reissued a “buy” rating and set a $215.00 target price on shares of Facebook in a research report on Tuesday, December 5th. Evercore ISI began coverage on shares of Facebook in a research report on Tuesday, December 5th. They set an “outperform” rating and a $225.00 target price on the stock. MKM Partners raised their target price on shares of Facebook to $240.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $202.00 target price on the stock in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have assigned a buy rating and three have given a strong buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and an average target price of $200.73.

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About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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