State of Tennessee Treasury Department Reduces Position in Facebook Inc (FB)

State of Tennessee Treasury Department cut its position in shares of Facebook Inc (NASDAQ:FB) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,761,739 shares of the social networking company’s stock after selling 63,852 shares during the period. Facebook makes up about 1.5% of State of Tennessee Treasury Department’s portfolio, making the stock its 5th biggest holding. State of Tennessee Treasury Department owned about 0.06% of Facebook worth $301,028,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Facebook by 283.6% in the 2nd quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock valued at $1,794,857,000 after purchasing an additional 8,788,743 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Facebook by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after purchasing an additional 5,151,190 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Facebook by 3.0% in the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after purchasing an additional 4,032,727 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in shares of Facebook by 15,047.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock valued at $16,828,000 after purchasing an additional 2,523,918 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its stake in shares of Facebook by 28.4% in the 2nd quarter. Magellan Asset Management Ltd now owns 10,686,955 shares of the social networking company’s stock valued at $1,613,516,000 after purchasing an additional 2,361,166 shares during the last quarter. 57.73% of the stock is owned by institutional investors.

In other news, VP David B. Fischer sold 4,699 shares of Facebook stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $171.53, for a total value of $806,019.47. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $172.43, for a total value of $129,322.50. Following the completion of the transaction, the vice president now owns 89,916 shares in the company, valued at $15,504,215.88. The disclosure for this sale can be found here. Insiders have sold a total of 4,182,199 shares of company stock worth $752,724,430 over the last 90 days. 17.23% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on FB. SunTrust Banks raised their price objective on Facebook to $240.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus lowered Facebook from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley set a $215.00 price objective on Facebook and gave the company a “buy” rating in a research note on Friday. Vetr lowered Facebook from a “strong-buy” rating to a “buy” rating and set a $210.22 price objective for the company. in a research note on Thursday. Finally, UBS Group set a $215.00 price objective on Facebook and gave the company a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $203.72.

Facebook Inc (NASDAQ FB) opened at $179.37 on Friday. The company has a market capitalization of $521,214.78, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Facebook Inc has a fifty-two week low of $126.78 and a fifty-two week high of $188.90.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. Facebook’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. analysts forecast that Facebook Inc will post 5.86 EPS for the current year.

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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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