The Facebook Inc. (FB) Stake Raised by Mizuho Trust & Banking Co. Ltd.

The Facebook Inc. (FB) Stake Raised by Mizuho Trust & Banking Co. Ltd.

Mizuho Trust & Banking Co. Ltd. increased its stake in shares of Facebook Inc. (NASDAQ:FB) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 3,617,143 shares of the social networking company’s stock after buying an additional 56,009 shares during the period. Facebook accounts for about 1.3% of Mizuho Trust & Banking Co. Ltd.’s holdings, making the stock its 9th largest position. Mizuho Trust & Banking Co. Ltd.’s holdings in Facebook were worth $413,367,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new position in shares of Facebook during the first quarter valued at approximately $106,000. Bartlett & Co. LLC raised its position in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock valued at $128,000 after buying an additional 91 shares in the last quarter. Kings Point Capital Management raised its position in shares of Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock valued at $136,000 after buying an additional 200 shares in the last quarter. Gradient Investments LLC raised its position in shares of Facebook by 25.2% in the second quarter. Gradient Investments LLC now owns 1,365 shares of the social networking company’s stock valued at $156,000 after buying an additional 275 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in shares of Facebook by 75.0% in the second quarter. Duncker Streett & Co. Inc. now owns 1,400 shares of the social networking company’s stock valued at $160,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 56.63% of the company’s stock.

Facebook Inc. (NASDAQ:FB) traded up 1.23% during midday trading on Friday, hitting $131.29. The stock had a trading volume of 24,545,547 shares. The stock has a market cap of $377.02 billion, a PE ratio of 62.76 and a beta of 0.77. The firm has a 50 day moving average price of $129.11 and a 200 day moving average price of $121.45. Facebook Inc. has a one year low of $89.37 and a one year high of $133.50.

Several research firms have recently issued reports on FB. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $162.00 price target on shares of Facebook in a research report on Saturday, October 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $170.00 price target on shares of Facebook in a research report on Sunday, October 23rd. Wedbush reissued an “outperform” rating and issued a $162.00 target price on shares of Facebook in a research report on Friday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $170.00 target price on shares of Facebook in a research report on Friday, September 9th. Finally, Loop Capital initiated coverage on Facebook in a research report on Thursday, September 22nd. They issued a “buy” rating and a $165.00 target price for the company. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the stock. Facebook presently has a consensus rating of “Buy” and an average price target of $150.30.

In other news, CFO David M. Wehner sold 10,528 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $123.59, for a total transaction of $1,301,155.52. Following the transaction, the chief financial officer now directly owns 68,922 shares in the company, valued at approximately $8,518,069.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David B. Fischer sold 31,500 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $123.58, for a total transaction of $3,892,770.00. Following the transaction, the vice president now owns 218,648 shares in the company, valued at $27,020,519.84. The disclosure for this sale can be found here. Corporate insiders own 19.08% of the company’s stock.

Facebook Company Profile

Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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