Grisanti Capital Management LLC grew its stake in shares of Facebook, Inc. (NASDAQ:FB) by 35.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 74,240 shares of the social networking company’s stock after buying an additional 19,332 shares during the period. Facebook comprises 6.3% of Grisanti Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Grisanti Capital Management LLC’s holdings in Facebook were worth $14,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Facebook by 2.0% in the first quarter. BlackRock Inc. now owns 149,137,226 shares of the social networking company’s stock worth $23,830,637,000 after buying an additional 2,966,437 shares in the last quarter. Jennison Associates LLC raised its position in shares of Facebook by 9.9% in the second quarter. Jennison Associates LLC now owns 15,147,053 shares of the social networking company’s stock worth $2,943,375,000 after buying an additional 1,360,607 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Facebook by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 12,937,287 shares of the social networking company’s stock worth $2,067,249,000 after buying an additional 58,561 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Facebook by 4,170.3% in the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock worth $9,071,000 after buying an additional 8,858,520 shares in the last quarter. Finally, Edgewood Management LLC raised its position in shares of Facebook by 14.7% in the first quarter. Edgewood Management LLC now owns 8,443,014 shares of the social networking company’s stock worth $1,349,109,000 after buying an additional 1,083,036 shares in the last quarter. Hedge funds and other institutional investors own 60.25% of the company’s stock.

Facebook stock opened at $144.96 on Friday. The stock has a market cap of $440.19 billion, a PE ratio of 20.50, a PEG ratio of 0.92 and a beta of 0.55. Facebook, Inc. has a 1-year low of $139.03 and a 1-year high of $218.62.

Facebook (NASDAQ:FB) last posted its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.30. The company had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. Facebook’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. As a group, research analysts predict that Facebook, Inc. will post 7.35 EPS for the current year.

In other news, VP Colin Stretch sold 750 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $151.57, for a total transaction of $113,677.50. Following the completion of the sale, the vice president now directly owns 90,144 shares in the company, valued at $13,663,126.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 602,000 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $176.67, for a total transaction of $106,355,340.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,571,582 shares of company stock valued at $448,690,663. 17.23% of the stock is currently owned by company insiders.

A number of research firms recently commented on FB. Wells Fargo & Co reissued a “buy” rating and issued a $220.00 target price (down previously from $250.00) on shares of Facebook in a research note on Thursday, July 26th. Wedbush reissued a “buy” rating and issued a $250.00 target price on shares of Facebook in a research note on Thursday, July 26th. Monness Crespi & Hardt reduced their target price on Facebook from $225.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, July 26th. Citigroup cut Facebook to a “buy” rating and reduced their target price for the company from $220.00 to $210.00 in a research note on Thursday, July 26th. They noted that the move was a valuation call. Finally, KeyCorp reissued a “buy” rating and issued a $215.00 target price (down previously from $245.00) on shares of Facebook in a research note on Thursday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $194.54.

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About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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