Retirement Systems of Alabama Decreases Stake in Facebook Inc (FB)

Retirement Systems of Alabama lowered its holdings in shares of Facebook Inc (NASDAQ:FB) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,584,711 shares of the social networking company’s stock after selling 128,702 shares during the period. Facebook makes up 1.4% of Retirement Systems of Alabama’s holdings, making the stock its 4th largest position. Retirement Systems of Alabama owned approximately 0.05% of Facebook worth $270,780,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Cobblestone Capital Advisors LLC NY grew its holdings in shares of Facebook by 7.2% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 4,683 shares of the social networking company’s stock valued at $800,000 after buying an additional 315 shares in the last quarter. Zweig DiMenna Associates LLC boosted its position in Facebook by 1.8% during the third quarter. Zweig DiMenna Associates LLC now owns 260,958 shares of the social networking company’s stock valued at $44,590,000 after purchasing an additional 4,669 shares during the last quarter. R. G. Niederhoffer Capital Management Inc. acquired a new stake in Facebook during the third quarter valued at $786,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in Facebook by 200.6% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 321,943 shares of the social networking company’s stock valued at $54,490,000 after purchasing an additional 214,828 shares during the last quarter. Finally, Meridian Management Co. boosted its position in Facebook by 22.0% during the third quarter. Meridian Management Co. now owns 13,783 shares of the social networking company’s stock valued at $2,355,000 after purchasing an additional 2,485 shares during the last quarter. 57.67% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on FB shares. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $209.16 price target for the company in a research report on Thursday, January 25th. Aegis boosted their price objective on Facebook from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. UBS Group set a $208.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Jefferies Group restated a “buy” rating and set a $230.00 price target on shares of Facebook in a research note on Thursday, February 1st. Finally, BidaskClub upgraded Facebook from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-two have given a buy rating and two have given a strong buy rating to the company. Facebook has an average rating of “Buy” and an average target price of $214.70.

Facebook Inc (NASDAQ:FB) traded up $6.37 during midday trading on Wednesday, hitting $179.52. 28,929,704 shares of the stock were exchanged, compared to its average volume of 26,910,000. Facebook Inc has a 52 week low of $132.55 and a 52 week high of $195.32. The firm has a market capitalization of $521,510.00, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.24. The company had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. Facebook had a net margin of 39.16% and a return on equity of 26.49%. research analysts predict that Facebook Inc will post 7.22 EPS for the current year.

In other Facebook news, CEO Mark Zuckerberg sold 232,138 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $183.08, for a total transaction of $42,499,825.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David B. Fischer sold 5,587 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $187.66, for a total transaction of $1,048,456.42. The disclosure for this sale can be found here. Insiders sold 1,270,505 shares of company stock worth $229,088,067 over the last three months. 17.23% of the stock is currently owned by insiders.

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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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