Advisors Asset Management Inc. increased its holdings in Facebook, Inc. (NASDAQ:FB) by 14.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,360 shares of the social networking company’s stock after buying an additional 37,676 shares during the period. Facebook accounts for approximately 0.8% of Advisors Asset Management Inc.’s portfolio, making the stock its 6th largest holding. Advisors Asset Management Inc.’s holdings in Facebook were worth $44,895,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC raised its position in Facebook by 2.4% during the first quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after purchasing an additional 6,740 shares in the last quarter. ING Groep NV raised its position in Facebook by 6.9% during the second quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock valued at $89,041,000 after purchasing an additional 37,822 shares in the last quarter. Grand Jean Capital Management Inc. raised its position in Facebook by 14.3% during the first quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after purchasing an additional 15,910 shares in the last quarter. Segment Wealth Management LLC raised its position in Facebook by 157.5% during the first quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock valued at $1,042,000 after purchasing an additional 4,485 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new stake in Facebook during the first quarter valued at about $94,601,000. Institutional investors own 57.27% of the company’s stock.

TRADEMARK VIOLATION WARNING: This article was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://theolympiareport.com/2017/11/01/advisors-asset-management-inc-has-44-90-million-position-in-facebook-inc-fb.html.

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated a “buy” rating and set a $190.00 price target on shares of Facebook in a research report on Tuesday. Wedbush set a $225.00 price target on Facebook and gave the company a “buy” rating in a research report on Monday. Goldman Sachs Group, Inc. (The) set a $205.00 price target on Facebook and gave the company a “buy” rating in a research report on Friday, October 20th. Royal Bank Of Canada restated a “buy” rating and set a $195.00 price target on shares of Facebook in a research report on Friday, October 13th. Finally, Mizuho restated a “buy” rating and set a $230.00 price target on shares of Facebook in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and a consensus target price of $186.72.

In other news, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $171.88, for a total transaction of $128,910.00. Following the transaction, the vice president now directly owns 82,406 shares in the company, valued at $14,163,943.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Todd Schroepfer sold 37,963 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $171.98, for a total transaction of $6,528,876.74. Following the transaction, the insider now owns 882,427 shares in the company, valued at $151,759,795.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,705,933 shares of company stock worth $972,931,125. Insiders own 19.08% of the company’s stock.

Facebook, Inc. (FB) opened at 180.06 on Wednesday. The stock’s 50 day moving average is $172.00 and its 200 day moving average is $161.33. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $180.80. The stock has a market capitalization of $522.93 billion, a price-to-earnings ratio of 40.30 and a beta of 0.70.

Facebook 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.

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.