First Trust Advisors LP decreased its position in shares of Facebook, Inc. (NASDAQ:FB) by 22.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,122,593 shares of the social networking company’s stock after selling 917,066 shares during the period. Facebook comprises approximately 1.2% of First Trust Advisors LP’s holdings, making the stock its 6th largest position. First Trust Advisors LP owned 0.11% of Facebook worth $443,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FB. Arcadia Investment Management Corp MI boosted its position in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after buying an additional 120 shares during the period. Cohen Capital Management Inc. bought a new position in Facebook during the first quarter valued at $121,000. Cable Hill Partners LLC boosted its position in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares during the period. Viking Fund Management LLC bought a new position in Facebook during the first quarter valued at $142,000. Finally, State of Alaska Department of Revenue bought a new position in Facebook during the first quarter valued at $180,000. Hedge funds and other institutional investors own 57.30% of the company’s stock.

Shares of Facebook, Inc. (NASDAQ FB) traded down 0.32% during midday trading on Tuesday, reaching $166.70. The company had a trading volume of 2,589,666 shares. The company has a 50 day moving average of $166.02 and a 200 day moving average of $150.10. The firm has a market capitalization of $484.13 billion, a price-to-earnings ratio of 37.31 and a beta of 0.70. Facebook, Inc. has a 12-month low of $113.55 and a 12-month high of $175.49.

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

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A number of brokerages have recently commented on FB. UBS AG set a $168.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research report on Thursday, May 4th. Cowen and Company reissued an “outperform” rating and issued a $195.00 price objective on shares of Facebook in a research report on Thursday, August 10th. Pivotal Research lowered shares of Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Robert W. Baird reissued an “outperform” rating and issued a $185.00 price objective (up previously from $163.00) on shares of Facebook in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus price target of $183.74.

In other Facebook news, VP David B. Fischer sold 16,298 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $168.88, for a total transaction of $2,752,406.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the 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 $115,305.00. Following the transaction, the vice president now directly owns 89,156 shares of the company’s stock, valued at approximately $13,706,843.44. The disclosure for this sale can be found here. Insiders sold a total of 12,150,319 shares of company stock valued at $1,972,169,672 in the last ninety days. 19.08% of the stock is currently owned by insiders.

About Facebook

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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