Westwood Management Corp IL cut its position in shares of Facebook, Inc. (NASDAQ:FB) by 3.3% during the first quarter, Holdings Channel reports. The firm owned 428,150 shares of the social networking company’s stock after selling 14,700 shares during the period. Facebook comprises 10.3% of Westwood Management Corp IL’s portfolio, making the stock its largest position. Westwood Management Corp IL’s holdings in Facebook were worth $60,819,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hemenway Trust Co LLC acquired a new stake in Facebook during the fourth quarter worth about $109,000. GFI Investment Counsel Ltd. acquired a new stake in Facebook during the fourth quarter worth about $115,000. Cohen Capital Management Inc. acquired a new stake in Facebook during the first quarter worth about $121,000. Massey Quick & Co. LLC acquired a new stake in Facebook during the fourth quarter worth about $129,000. Finally, Cable Hill Partners LLC raised its stake in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 79 shares during the period. 58.65% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Shares of Facebook, Inc. (NASDAQ FB) opened at 150.64 on Friday. The company has a market cap of $436.58 billion, a price-to-earnings ratio of 38.30 and a beta of 0.66. The firm has a 50-day moving average price of $150.69 and a 200 day moving average price of $136.55. Facebook, Inc. has a 1-year low of $108.23 and a 1-year high of $155.59.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. Facebook had a return on equity of 20.27% and a net margin of 36.45%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.83 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company’s revenue was up 49.2% compared to the same quarter last year. On average, analysts predict that Facebook, Inc. will post $4.85 EPS for the current fiscal year.

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FB has been the topic of several recent research reports. Deutsche Bank AG reissued a “buy” rating and set a $150.00 price objective on shares of Facebook in a report on Wednesday, February 22nd. Vetr lowered Facebook from a “buy” rating to a “hold” rating and set a $141.30 price objective on the stock. in a report on Monday, February 27th. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of Facebook in a report on Tuesday, February 28th. Aegis initiated coverage on Facebook in a report on Tuesday, February 28th. Finally, Citigroup Inc. reissued a “top pick” rating and set a $165.00 price objective on shares of Facebook in a report on Friday, March 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $164.40.

In related news, CEO Mark Zuckerberg sold 122,521 shares of Facebook stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $153.03, for a total value of $18,749,388.63. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan Desmond-Hellmann sold 209 shares of Facebook stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $144.67, for a total transaction of $30,236.03. The disclosure for this sale can be found here. Insiders sold a total of 7,482,927 shares of company stock worth $1,102,165,009 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.

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