First City Capital Management Inc. purchased a new position in shares of Facebook, Inc. (NASDAQ:FB) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,675 shares of the social networking company’s stock, valued at approximately $238,000.

A number of other hedge funds have also modified their holdings of the business. State Street Corp boosted its position in Facebook by 1.7% during the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after purchasing an additional 1,536,158 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Facebook by 5.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 7,126,937 shares of the social networking company’s stock worth $1,012,382,000 after purchasing an additional 349,947 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Facebook by 1.1% during 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 purchasing an additional 71,206 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Facebook by 17.8% during 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 purchasing an additional 620,686 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Facebook by 1.5% during the first quarter. Rhumbline Advisers now owns 3,741,605 shares of the social networking company’s stock worth $531,495,000 after purchasing an additional 54,953 shares in the last quarter. Institutional investors own 57.30% of the company’s stock.

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A number of equities analysts have issued reports on the company. Pivotal Research reiterated a “sell” rating and set a $140.00 price target on shares of Facebook in a research report on Wednesday, September 6th. Robert W. Baird reissued a “buy” rating and set a $185.00 target price on shares of Facebook in a report on Friday, September 1st. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Monday, August 28th. SunTrust Banks, Inc. assumed coverage on Facebook in a report on Tuesday, August 15th. They set a “buy” rating and a $210.00 target price for the company. Finally, Cowen and Company reissued an “outperform” rating and set a $195.00 target price on shares of Facebook in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $183.74.

In related news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.87, for a total transaction of $114,652.50. Following the transaction, the vice president now owns 87,656 shares in the company, valued at $13,399,972.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $171.13, for a total transaction of $2,738,080.00. Following the transaction, the insider now owns 194,666 shares in the company, valued at approximately $33,313,192.58. The disclosure for this sale can be found here. Insiders have sold 13,071,103 shares of company stock worth $2,134,223,843 in the last quarter. Company insiders own 19.08% of the company’s stock.

Shares of Facebook, Inc. (FB) traded down 0.17% during midday trading on Wednesday, hitting $172.67. The stock had a trading volume of 4,455,795 shares. The company has a market cap of $501.47 billion, a P/E ratio of 38.65 and a beta of 0.76. Facebook, Inc. has a one year low of $113.55 and a one year high of $175.49. The firm has a 50 day moving average of $169.49 and a 200-day moving average of $153.01.

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

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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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