WESPAC Advisors SoCal LLC grew its position in shares of Facebook, Inc. (NASDAQ:FB) by 4.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,121 shares of the social networking company’s stock after acquiring an additional 600 shares during the quarter. Facebook makes up 1.4% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 28th largest holding. WESPAC Advisors SoCal LLC’s holdings in Facebook were worth $2,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC raised its holdings in Facebook by 186.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after purchasing an additional 406 shares during the period. IMA Wealth Inc. bought a new position in Facebook in the 2nd quarter worth $122,000. Trust Department MB Financial Bank N A bought a new position in Facebook in the 2nd quarter worth $134,000. Northwest Wealth Management LLC bought a new position in Facebook in the 2nd quarter worth $194,000. Finally, GenWealth Group Inc. bought a new position in Facebook in the 2nd quarter worth $200,000. 60.25% of the stock is currently owned by hedge funds and other institutional investors.

FB has been the topic of a number of recent analyst reports. Raymond James cut Facebook from a “strong-buy” rating to an “outperform” rating and set a $210.00 price target on the stock. in a report on Thursday, July 26th. Royal Bank of Canada reissued a “buy” rating and set a $195.00 price target on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reissued a “buy” rating and set a $202.00 price target on shares of Facebook in a report on Thursday, August 23rd. JPMorgan Chase & Co. raised their price objective on Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, September 18th. Finally, Goldman Sachs Group restated a “buy” rating and set a $205.00 price objective on shares of Facebook in a research report on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $194.54.

In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $179.17, for a total value of $134,377.50. Following the completion of the transaction, the vice president now owns 85,615 shares of the company’s stock, valued at $15,339,639.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $180.72, for a total transaction of $9,939,600.00. The disclosure for this sale can be found here. Insiders have sold 2,571,582 shares of company stock valued at $448,690,663 in the last ninety days. Insiders own 17.23% of the company’s stock.

Shares of NASDAQ:FB opened at $144.96 on Friday. Facebook, Inc. has a 1 year low of $139.03 and a 1 year high of $218.62. The company has a market cap of $440.19 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55.

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

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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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