Facebook Inc (FB) Position Cut by Hartford Investment Management Co.

Hartford Investment Management Co. cut its position in shares of Facebook Inc (NASDAQ:FB) by 0.9% in the 3rd quarter, Holdings Channel reports. The firm owned 536,729 shares of the social networking company’s stock after selling 5,130 shares during the period. Facebook accounts for 1.7% of Hartford Investment Management Co.’s holdings, making the stock its 3rd biggest position. Hartford Investment Management Co.’s holdings in Facebook were worth $91,711,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FB. Regal Investment Advisors LLC raised its holdings in shares of Facebook by 0.3% in the second quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock worth $876,000 after acquiring an additional 18 shares during the last quarter. Halbert Hargrove Russell LLC raised its holdings in shares of Facebook by 0.5% in the second quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock worth $526,000 after acquiring an additional 19 shares during the last quarter. Aspen Investment Management Inc raised its holdings in shares of Facebook by 0.4% in the second quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock worth $1,044,000 after acquiring an additional 30 shares during the last quarter. Fort Pitt Capital Group LLC raised its holdings in shares of Facebook by 2.4% in the second quarter. Fort Pitt Capital Group LLC now owns 1,609 shares of the social networking company’s stock worth $243,000 after acquiring an additional 38 shares during the last quarter. Finally, New Amsterdam Partners LLC NY raised its holdings in shares of Facebook by 0.7% in the second quarter. New Amsterdam Partners LLC NY now owns 5,808 shares of the social networking company’s stock worth $877,000 after acquiring an additional 39 shares during the last quarter. 57.32% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO David M. Wehner sold 15,470 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $179.05, for a total value of $2,769,903.50. Following the completion of the sale, the chief financial officer now owns 67,539 shares of the company’s stock, valued at $12,092,857.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $179.29, for a total value of $134,467.50. Following the completion of the sale, the vice president now directly owns 86,296 shares of the company’s stock, valued at approximately $15,472,009.84. The disclosure for this sale can be found here. Insiders sold 1,048,504 shares of company stock valued at $187,788,522 in the last ninety days. Company insiders own 17.23% of the company’s stock.

Shares of Facebook Inc (FB) opened at $177.36 on Monday. Facebook Inc has a 1 year low of $132.90 and a 1 year high of $195.32. The stock has a market capitalization of $515,230.81, a PE ratio of 28.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.59.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.24. Facebook had a return on equity of 26.49% and a net margin of 39.16%. The firm had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. analysts anticipate that Facebook Inc will post 7.28 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on FB shares. Macquarie set a $205.00 price target on Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. Robert W. Baird set a $200.00 price objective on Facebook and gave the company a “buy” rating in a research report on Thursday, November 2nd. Atlantic Securities set a $215.00 price objective on Facebook and gave the company a “buy” rating in a research report on Thursday, November 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Facebook in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus lowered their price objective on Facebook from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $214.70.

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Facebook Profile

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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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