State Treasurer State of Michigan raised its position in Facebook, Inc. (NASDAQ:FB) by 1.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,659,116 shares of the social networking company’s stock after buying an additional 19,400 shares during the period. Facebook makes up about 1.8% of State Treasurer State of Michigan’s investment portfolio, making the stock its 7th largest position. State Treasurer State of Michigan owned approximately 0.06% of Facebook worth $235,677,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. River & Mercantile Asset Management LLP purchased a new position in shares of Facebook during the fourth quarter worth $2,176,000. Ibex Wealth Advisors raised its position in shares of Facebook by 6.2% in the fourth quarter. Ibex Wealth Advisors now owns 31,642 shares of the social networking company’s stock worth $4,020,000 after buying an additional 1,856 shares during the last quarter. Pekin Singer Strauss Asset Management IL raised its position in shares of Facebook by 29.6% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 5,076 shares of the social networking company’s stock worth $584,000 after buying an additional 1,160 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in shares of Facebook by 25.0% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 22,789 shares of the social networking company’s stock worth $2,621,000 after buying an additional 4,560 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Facebook by 73.4% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 771,892 shares of the social networking company’s stock worth $88,821,000 after buying an additional 326,811 shares during the last quarter. Hedge funds and other institutional investors own 57.40% of the company’s stock.

Facebook, Inc. (FB) traded down 0.53% during mid-day trading on Friday, reaching $166.85. The company had a trading volume of 4,306,555 shares. Facebook, Inc. has a 52 week low of $113.55 and a 52 week high of $175.49. The stock’s 50-day moving average price is $165.53 and its 200 day moving average price is $149.85. The firm has a market capitalization of $484.57 billion, a PE ratio of 37.34 and a beta of 0.70.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. On average, equities research analysts predict that Facebook, Inc. will post $5.33 EPS for the current year.

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A number of equities analysts have recently weighed in on the company. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a research report on Monday. SunTrust Banks, Inc. assumed coverage on Facebook in a research report on Tuesday, August 15th. They set a “buy” rating and a $210.00 target price on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $195.00 target price on shares of Facebook in a research report on Thursday, August 10th. Zacks Investment Research lowered Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Pivotal Research lowered Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Two equities 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 stock. Facebook currently has an average rating of “Buy” and an average target price of $183.74.

In other Facebook news, CEO Mark Zuckerberg sold 279,533 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $152.04, for a total value of $42,500,197.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $168.25, for a total transaction of $126,187.50. Following the completion of the transaction, the vice president now directly owns 96,341 shares of the company’s stock, valued at $16,209,373.25. The disclosure for this sale can be found here. Insiders have sold 12,414,304 shares of company stock valued at $2,012,031,313 over the last three months. 19.08% of the stock is currently owned by corporate insiders.

Facebook Company 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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