Comerica Bank trimmed its position in Facebook, Inc. (NASDAQ:FB) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 694,808 shares of the social networking company’s stock after selling 1,530 shares during the period. Facebook accounts for approximately 0.9% of Comerica Bank’s investment portfolio, making the stock its 9th biggest holding. Comerica Bank’s holdings in Facebook were worth $115,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. increased its position in shares of Facebook by 1.1% in the 2nd quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock valued at $224,000 after acquiring an additional 16 shares during the period. Enterprise Financial Services Corp increased its position in shares of Facebook by 1.0% in the 1st quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock valued at $302,000 after acquiring an additional 21 shares during the period. Wagner Bowman Management Corp increased its position in shares of Facebook by 0.5% in the 2nd quarter. Wagner Bowman Management Corp now owns 4,997 shares of the social networking company’s stock valued at $754,000 after acquiring an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC increased its position in shares of Facebook by 2.1% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock valued at $222,000 after acquiring an additional 30 shares during the period. Finally, Keel Point LLC increased its position in shares of Facebook by 1.5% in the 1st quarter. Keel Point LLC now owns 2,289 shares of the social networking company’s stock valued at $325,000 after acquiring an additional 34 shares during the period. 57.27% of the stock is currently owned by hedge funds and other institutional investors.

In other Facebook news, CEO Mark Zuckerberg sold 248,984 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $170.69, for a total transaction of $42,499,078.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Todd Schroepfer sold 37,963 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $171.98, for a total transaction of $6,528,876.74. Following the transaction, the insider now owns 882,427 shares in the company, valued at $151,759,795.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,290,683 shares of company stock worth $1,438,581,045. Company insiders own 19.08% of the company’s stock.

Facebook, Inc. (FB) opened at $178.92 on Monday. Facebook, Inc. has a one year low of $113.55 and a one year high of $182.90. The stock has a market cap of $519,618.75, a PE ratio of 34.47, a PEG ratio of 1.20 and a beta of 0.67.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. research analysts expect that Facebook, Inc. will post 5.75 EPS for the current fiscal year.

Several brokerages have weighed in on FB. Cowen and Company reaffirmed an “average” rating and set a $200.00 price target (up from $195.00) on shares of Facebook in a research report on Wednesday, September 27th. Deutsche Bank AG increased their price target on Facebook from $185.00 to $189.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Goldman Sachs Group, Inc. (The) set a $180.00 price target on Facebook and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 price target (up from $165.00) on shares of Facebook in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $185.00 price target on shares of Facebook in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, forty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $196.91.

COPYRIGHT VIOLATION NOTICE: This report was published by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.watchlistnews.com/comerica-bank-sells-1530-shares-of-facebook-inc-fb/1681881.html.

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.

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 & 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 companies with Analyst Ratings Network's FREE daily email newsletter.