Strategic Wealth Management Group LLC reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,939 shares of the social networking company’s stock after selling 366 shares during the quarter. Facebook comprises about 1.6% of Strategic Wealth Management Group LLC’s holdings, making the stock its 10th largest position. Strategic Wealth Management Group LLC’s holdings in Facebook were worth $2,111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covenant Asset Management LLC increased its holdings in Facebook by 6.2% during the second quarter. Covenant Asset Management LLC now owns 28,686 shares of the social networking company’s stock worth $5,536,000 after buying an additional 1,666 shares during the last quarter. Verity & Verity LLC bought a new stake in Facebook in the second quarter worth $238,000. Foster & Motley Inc. lifted its position in Facebook by 151.2% in the second quarter. Foster & Motley Inc. now owns 4,365 shares of the social networking company’s stock worth $842,000 after buying an additional 2,627 shares during the last quarter. Round Table Services LLC lifted its position in Facebook by 20.8% in the second quarter. Round Table Services LLC now owns 2,076 shares of the social networking company’s stock worth $401,000 after buying an additional 358 shares during the last quarter. Finally, Waverton Investment Management Ltd lifted its position in Facebook by 2.1% in the second quarter. Waverton Investment Management Ltd now owns 13,164 shares of the social networking company’s stock worth $2,541,000 after buying an additional 272 shares during the last quarter. 61.75% of the stock is currently owned by institutional investors and hedge funds.

FB stock traded down $0.96 during trading on Friday, reaching $199.75. 24,424,018 shares of the company traded hands, compared to its average volume of 14,998,376. Facebook, Inc. has a 12 month low of $123.02 and a 12 month high of $208.66. The company’s 50 day moving average price is $192.39. The company has a market capitalization of $570.18 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 1.23 and a beta of 0.97. The company has a quick ratio of 5.38, a current ratio of 4.47 and a debt-to-equity ratio of 0.08.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.09. Facebook had a return on equity of 23.75% and a net margin of 27.26%. The company had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.49 billion. During the same quarter last year, the company earned $1.74 earnings per share. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. Equities research analysts expect that Facebook, Inc. will post 8.13 earnings per share for the current fiscal year.

FB has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on Cue Biopharma in a research report on Thursday. They issued an “outperform” rating and a $13.00 price target for the company. Zacks Investment Research lowered Wix.Com from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. BMO Capital Markets reduced their target price on Snc-Lavalin Group from C$33.00 to C$28.00 in a research note on Tuesday, July 23rd. JMP Securities increased their target price on Facebook from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Cleveland Research reiterated a “buy” rating on shares of Facebook in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and forty-four have issued a buy rating to the company. Facebook presently has a consensus rating of “Buy” and a consensus target price of $219.67.

In related news, insider Susan J.S. Taylor sold 1,472 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $181.89, for a total transaction of $267,742.08. Following the sale, the insider now owns 569 shares of the company’s stock, valued at $103,495.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $194.78, for a total value of $146,085.00. Following the sale, the vice president now directly owns 99,372 shares in the company, valued at approximately $19,355,678.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,480 shares of company stock worth $56,660,885. 14.53% of the stock is owned by corporate insiders.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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