Diamond Hill Capital Management Inc. increased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 75.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,648,291 shares of the social networking company’s stock after buying an additional 710,276 shares during the period. Facebook comprises 1.6% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Diamond Hill Capital Management Inc.’s holdings in Facebook were worth $320,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FB. Townsend & Associates Inc increased its position in shares of Facebook by 6.6% in the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock valued at $792,000 after purchasing an additional 254 shares during the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Facebook by 2.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock valued at $2,462,000 after purchasing an additional 274 shares during the last quarter. Harvest Group Wealth Management LLC increased its position in shares of Facebook by 2.4% in the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock valued at $1,986,000 after purchasing an additional 286 shares during the last quarter. Truewealth LLC increased its position in shares of Facebook by 7.1% in the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock valued at $837,000 after purchasing an additional 287 shares during the last quarter. Finally, Sit Investment Associates Inc. increased its position in shares of Facebook by 0.5% in the 2nd quarter. Sit Investment Associates Inc. now owns 56,660 shares of the social networking company’s stock valued at $11,010,000 after purchasing an additional 290 shares during the last quarter. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Mark Zuckerberg sold 263,210 shares of the firm’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $174.21, for a total value of $45,853,814.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Wehner sold 4,761 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $141.10, for a total transaction of $671,777.10. Following the completion of the sale, the chief financial officer now owns 76,830 shares of the company’s stock, valued at approximately $10,840,713. The disclosure for this sale can be found here. Insiders sold a total of 1,739,660 shares of company stock valued at $298,124,908 in the last 90 days. Company insiders own 16.25% of the company’s stock.

FB has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $220.00 price objective on shares of Facebook in a research report on Thursday, July 26th. Stifel Nicolaus dropped their target price on shares of Facebook from $242.00 to $202.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. SunTrust Banks dropped their target price on shares of Facebook to $200.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $225.00 target price on shares of Facebook in a research report on Thursday, July 26th. Finally, Goldman Sachs Group set a $205.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Thursday, July 26th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $194.54.

Shares of NASDAQ:FB opened at $132.43 on Wednesday. The firm has a market cap of $405.33 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 0.85 and a beta of 0.55. Facebook, Inc. has a 1-year low of $126.85 and a 1-year high of $218.62.

Facebook (NASDAQ:FB) last released its earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping 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 company had revenue of $13.73 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the business earned $1.59 EPS. The business’s revenue was up 32.9% on a year-over-year basis. Analysts forecast that Facebook, Inc. will post 7.35 earnings per share for the current 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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