GenWealth Group Inc. Purchases New Holdings in Facebook, Inc. (NASDAQ:FB)

GenWealth Group Inc. purchased a new stake in shares of Facebook, Inc. (NASDAQ:FB) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,140 shares of the social networking company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Contravisory Investment Management Inc. increased its stake in Facebook by 153.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 200 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 121 shares in the last quarter. Whitnell & Co. bought a new stake in Facebook during the 4th quarter valued at about $26,000. Jackson Grant Investment Advisers Inc. bought a new stake in Facebook during the 4th quarter valued at about $31,000. Cordasco Financial Network increased its stake in Facebook by 70.0% during the 2nd 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 in the last quarter. Finally, Signet Investment Advisory Group Inc. bought a new stake in Facebook during the 4th quarter valued at about $39,000. 61.75% of the stock is owned by institutional investors.

In related news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $195.13, for a total value of $10,732,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO David B. Fischer sold 11,572 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $180.28, for a total transaction of $2,086,200.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 332,230 shares of company stock worth $61,571,002. Company insiders own 14.53% of the company’s stock.

FB has been the subject of a number of research analyst reports. UBS Group restated a “buy” rating and set a $124.00 target price on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Moffett Nathanson upgraded shares of Facebook from a “neutral” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Tuesday, June 11th. Bank of America set a $224.00 target price on shares of Facebook and gave the company a “buy” rating in a research report on Friday. Credit Suisse Group restated a “hold” rating and set a $32.00 target price on shares of CRH in a research report on Thursday, April 25th. Finally, Mizuho boosted their target price on shares of Facebook from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $213.01.

FB stock traded up $0.04 during mid-day trading on Tuesday, reaching $202.36. 13,243,650 shares of the stock traded hands, compared to its average volume of 18,030,674. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.38 and a quick ratio of 5.38. Facebook, Inc. has a one year low of $123.02 and a one year high of $218.62. The firm has a market cap of $566.22 billion, a PE ratio of 26.73, a PEG ratio of 1.23 and a beta of 0.97. The company has a 50-day simple moving average of $190.40.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.80). Facebook had a net margin of 33.17% and a return on equity of 23.67%. The firm had revenue of $15.08 billion for the quarter, compared to the consensus estimate of $14.97 billion. During the same quarter last year, the firm earned $1.69 EPS. The company’s revenue was up 26.0% on a year-over-year basis. As a group, equities analysts anticipate that Facebook, Inc. will post 8 earnings per share for the current year.

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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