Facebook, Inc. (NASDAQ:FB) is Zurich Insurance Group Ltd FI’s 5th Largest Position

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Zurich Insurance Group Ltd FI trimmed its stake in Facebook, Inc. (NASDAQ:FB) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 478,057 shares of the social networking company’s stock after selling 13,481 shares during the quarter. Facebook accounts for 1.8% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 5th largest position. Zurich Insurance Group Ltd FI’s holdings in Facebook were worth $92,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cordasco Financial Network grew its holdings in Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 70 shares during the last quarter. Whitnell & Co. acquired a new position in Facebook during the fourth quarter valued at approximately $26,000. Shamrock Asset Management LLC acquired a new position in Facebook during the second quarter valued at approximately $38,000. Clean Yield Group acquired a new position in Facebook during the second quarter valued at approximately $39,000. Finally, Litman Gregory Asset Management LLC acquired a new position in Facebook during the second quarter valued at approximately $41,000. 63.17% of the stock is owned by institutional investors and hedge funds.

FB stock traded down $0.68 during midday trading on Friday, hitting $189.46. The stock had a trading volume of 8,685,258 shares, compared to its average volume of 11,164,839. The firm has a market capitalization of $536.58 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 1.09 and a beta of 1.01. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $208.66. The stock has a 50-day simple moving average of $185.77 and a 200 day simple moving average of $183.67. The company has a current ratio of 4.47, a quick 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. The company had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The business’s revenue was up 27.6% on a year-over-year basis. During the same period last year, the business earned $1.74 earnings per share. On average, equities analysts forecast that Facebook, Inc. will post 8.03 EPS for the current year.

In other Facebook news, CAO Susan J.S. Taylor sold 1,134 shares of Facebook stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $185.45, for a total transaction of $210,300.30. Following the completion of the transaction, the chief accounting officer now directly owns 1,037 shares of the company’s stock, valued at $192,311.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction on Monday, July 8th. The shares were sold at an average price of $195.13, for a total value of $10,732,150.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,620,872 shares of company stock valued at $486,967,799. Company insiders own 14.53% of the company’s stock.

Several brokerages have commented on FB. BMO Capital Markets lowered their price target on Facebook to $195.00 and set a “market perform” rating on the stock in a report on Tuesday, July 23rd. Morgan Stanley increased their price target on Facebook from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Goldman Sachs Group set a $228.00 price target on Facebook and gave the company a “buy” rating in a report on Tuesday, July 23rd. BidaskClub downgraded Facebook from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, KeyCorp increased their price target on Facebook from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $220.92.

Facebook Profile

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.

Further Reading: What can cause a stock to outperform?

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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