Eastern Bank boosted its position in shares of Facebook, Inc. (NASDAQ:FB) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,111 shares of the social networking company’s stock after acquiring an additional 240 shares during the period. Facebook accounts for about 1.4% of Eastern Bank’s holdings, making the stock its 18th biggest position. Eastern Bank’s holdings in Facebook were worth $18,739,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI grew its stake in Facebook by 20.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares in the last quarter. D. Scott Neal Inc. grew its stake in Facebook by 1,358.0% in the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in Facebook by 4.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after buying an additional 34 shares in the last quarter. Pacific Center for Financial Services grew its stake in Facebook by 10.7% in the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 88 shares in the last quarter. Finally, Crow Point Partners LLC purchased a new position in Facebook in the 2nd quarter worth approximately $142,000. 57.26% of the stock is owned by institutional investors.

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In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $153.36, for a total value of $115,020.00. Following the completion of the sale, the vice president now directly owns 85,406 shares in the company, valued at $13,097,864.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jan Koum sold 3,600,000 shares of Facebook stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total value of $576,216,000.00. The disclosure for this sale can be found here. Insiders sold 12,916,933 shares of company stock valued at $2,121,180,386 over the last 90 days. 19.08% of the stock is currently owned by corporate insiders.

Facebook, Inc. (NASDAQ:FB) opened at 168.42 on Thursday. The company has a 50 day moving average of $169.75 and a 200 day moving average of $156.80. The company has a market capitalization of $489.12 billion, a price-to-earnings ratio of 37.69 and a beta of 0.70. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business’s revenue was up 44.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 earnings per share. On average, equities analysts forecast that Facebook, Inc. will post $5.37 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on FB shares. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Facebook in a research note on Friday, June 9th. Vetr cut shares of Facebook from a “buy” rating to a “hold” rating and set a $159.91 price objective for the company. in a research note on Monday, June 12th. Moffett Nathanson reaffirmed a “buy” rating on shares of Facebook in a research note on Friday, June 9th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Facebook in a research note on Monday, June 12th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Facebook in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $185.38.

About Facebook

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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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