Facebook, Inc. (FB) is State Treasurer State of Michigan’s 8th Largest Position

State Treasurer State of Michigan reduced its position in Facebook, Inc. (NASDAQ:FB) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,380,616 shares of the social networking company’s stock after selling 20,200 shares during the quarter. Facebook makes up about 1.9% of State Treasurer State of Michigan’s investment portfolio, making the stock its 8th biggest holding. State Treasurer State of Michigan’s holdings in Facebook were worth $243,623,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Regal Investment Advisors LLC grew its holdings in shares of Facebook by 0.3% during the second quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock valued at $876,000 after purchasing an additional 18 shares during the last quarter. Aspen Investment Management Inc grew its holdings in shares of Facebook by 0.4% during the second quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock valued at $1,044,000 after purchasing an additional 30 shares during the last quarter. First Commonwealth Financial Corp PA grew its holdings in shares of Facebook by 0.5% during the second quarter. First Commonwealth Financial Corp PA now owns 8,630 shares of the social networking company’s stock valued at $1,303,000 after purchasing an additional 46 shares during the last quarter. Affinity Wealth Management grew its holdings in shares of Facebook by 2.5% during the second quarter. Affinity Wealth Management now owns 2,184 shares of the social networking company’s stock valued at $330,000 after purchasing an additional 54 shares during the last quarter. Finally, Odey Holdings AG grew its holdings in shares of Facebook by 5.4% during the second quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after purchasing an additional 54 shares during the last quarter. 58.47% of the stock is owned by hedge funds and other institutional investors.

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In other news, CEO Mark Zuckerberg sold 1,636 shares of the stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $164.46, for a total transaction of $269,056.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Todd Schroepfer sold 38,104 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $161.31, for a total value of $6,146,556.24. Following the sale, the insider now owns 465,130 shares of the company’s stock, valued at approximately $75,030,120.30. The disclosure for this sale can be found here. Insiders have sold a total of 7,102,678 shares of company stock valued at $1,241,324,653 in the last quarter. Insiders own 17.23% of the company’s stock.

Several equities analysts have recently commented on FB shares. Argus upped their target price on Facebook to $214.00 in a report on Wednesday, April 11th. JPMorgan Chase set a $230.00 price objective on Facebook and gave the stock a “buy” rating in a research report on Monday, January 8th. Cowen reiterated a “buy” rating and set a $220.00 price objective on shares of Facebook in a research report on Thursday, January 4th. Vetr downgraded Facebook from a “strong-buy” rating to a “buy” rating and set a $203.53 price objective for the company. in a research report on Wednesday, January 3rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $230.00 price objective on shares of Facebook in a research report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-one have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $209.83.

FB opened at $164.83 on Tuesday. The company has a market capitalization of $477,930.63, a price-to-earnings ratio of 26.76, a PEG ratio of 0.89 and a beta of 0.80. Facebook, Inc. has a 1-year low of $139.75 and a 1-year high of $195.32.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. The firm had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. equities analysts predict that Facebook, Inc. will post 7.13 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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