Huntington National Bank Has $54.37 Million Position in Facebook, Inc. (FB)
Huntington National Bank decreased its position in shares of Facebook, Inc. (NASDAQ:FB) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 360,131 shares of the social networking company’s stock after selling 8,913 shares during the period. Facebook accounts for about 1.0% of Huntington National Bank’s investment portfolio, making the stock its 18th largest position. Huntington National Bank’s holdings in Facebook were worth $54,373,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bridges Investment Counsel Inc. boosted its position in Facebook by 97.7% in the second quarter. Bridges Investment Counsel Inc. now owns 16,815 shares of the social networking company’s stock worth $2,539,000 after buying an additional 8,310 shares in the last quarter. Bridges Investment Management Inc. boosted its position in Facebook by 0.6% in the second quarter. Bridges Investment Management Inc. now owns 40,361 shares of the social networking company’s stock worth $6,093,000 after buying an additional 225 shares in the last quarter. Private Bank & Trust Co. boosted its position in Facebook by 27.2% in the second quarter. Private Bank & Trust Co. now owns 34,835 shares of the social networking company’s stock worth $5,259,000 after buying an additional 7,448 shares in the last quarter. Altfest L J & Co. Inc. boosted its position in Facebook by 0.9% in the second quarter. Altfest L J & Co. Inc. now owns 13,477 shares of the social networking company’s stock worth $2,035,000 after buying an additional 116 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in Facebook during the second quarter worth about $1,540,000. 57.30% of the stock is owned by institutional investors.
Shares of Facebook, Inc. (NASDAQ:FB) traded up 0.30% on Friday, hitting $172.48. The company had a trading volume of 7,144,115 shares. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49. The stock has a market capitalization of $500.92 billion, a PE ratio of 38.60 and a beta of 0.70. The firm’s 50 day moving average price is $167.63 and its 200-day moving average price is $151.12.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 EPS. Analysts forecast that Facebook, Inc. will post $5.33 earnings per share for the current fiscal year.
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FB has been the subject of a number of research analyst reports. Zacks Investment Research cut Facebook from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $200.00 price target (up from $170.00) on shares of Facebook in a report on Thursday, July 27th. Wedbush reaffirmed a “buy” rating on shares of Facebook in a report on Thursday, July 27th. Macquarie set a $175.00 price target on Facebook and gave the company a “buy” rating in a report on Monday, July 24th. Finally, J P Morgan Chase & Co lifted their price target on Facebook from $170.00 to $182.00 and gave the company an “overweight” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $183.74.
In other Facebook news, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $153.74, for a total transaction of $115,305.00. Following the sale, the vice president now directly owns 89,156 shares in the company, valued at approximately $13,706,843.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sheryl Sandberg sold 163,500 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $153.74, for a total value of $25,136,490.00. The disclosure for this sale can be found here. Insiders sold a total of 12,405,594 shares of company stock worth $2,014,792,849 in the last 90 days. 19.08% of the stock is currently owned by company insiders.
Facebook Company Profile
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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