Halbert Hargrove Russell LLC cut its stake in Facebook, Inc. (NASDAQ:FB) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,466 shares of the social networking company’s stock after selling 205 shares during the period. Halbert Hargrove Russell LLC’s holdings in Facebook were worth $492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in Facebook by 1.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,721,199 shares of the social networking company’s stock worth $954,746,000 after buying an additional 71,206 shares during the period. Canada Pension Plan Investment Board raised its position in Facebook by 17.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,100,250 shares of the social networking company’s stock worth $582,441,000 after buying an additional 620,686 shares during the period. Rhumbline Advisers raised its position in Facebook by 1.5% in the first quarter. Rhumbline Advisers now owns 3,741,605 shares of the social networking company’s stock worth $531,495,000 after buying an additional 54,953 shares during the period. Russell Investments Group Ltd. raised its position in Facebook by 29.0% in the first quarter. Russell Investments Group Ltd. now owns 3,643,713 shares of the social networking company’s stock worth $517,583,000 after buying an additional 818,374 shares during the period. Finally, Henderson Group PLC raised its position in Facebook by 13.3% in the first quarter. Henderson Group PLC now owns 3,099,406 shares of the social networking company’s stock worth $440,317,000 after buying an additional 364,605 shares during the period. Hedge funds and other institutional investors own 57.30% of the company’s stock.

Facebook, Inc. (FB) traded up 0.68% during trading on Thursday, hitting $171.08. The stock had a trading volume of 6,099,647 shares. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49. The stock’s 50 day moving average price is $166.02 and its 200 day moving average price is $150.10. The firm has a market cap of $496.85 billion, a P/E ratio of 38.29 and a beta of 0.70.

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

WARNING: This piece was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/31/facebook-inc-fb-stake-cut-by-halbert-hargrove-russell-llc.html.

FB has been the subject of a number of recent research reports. UBS AG set a $168.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Thursday, May 4th. Robert W. Baird reissued an “outperform” rating and set a $163.00 price target on shares of Facebook in a research note on Thursday, May 4th. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $154.73 price target for the company in a research note on Wednesday, May 17th. BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, Mizuho reaffirmed a “buy” rating on shares of Facebook in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $183.74.

In related news, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $153.08, for a total value of $2,449,280.00. Following the sale, the insider now owns 206,428 shares of the company’s stock, valued at approximately $31,599,998.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Sheryl Sandberg sold 163,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $153.74, for a total value of $25,136,490.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,405,594 shares of company stock worth $2,014,792,849 in the last three months. Corporate insiders own 19.08% of the company’s stock.

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.

Want to see what other hedge funds are holding FB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Facebook, Inc. (NASDAQ:FB).

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Receive News & Stock Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related stocks with our FREE daily email newsletter.