Inverness Counsel LLC NY decreased its stake in shares of Facebook Inc (NASDAQ:FB) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,067 shares of the social networking company’s stock after selling 5,000 shares during the period. Facebook accounts for 2.7% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 6th biggest position. Inverness Counsel LLC NY’s holdings in Facebook were worth $37,774,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC grew its position in shares of Facebook by 2.4% in the first quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after purchasing an additional 6,740 shares during the period. Palisade Capital Management LLC NJ grew its position in shares of Facebook by 2.4% in the second quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock valued at $3,904,000 after purchasing an additional 602 shares during the period. ING Groep NV grew its position in shares of Facebook by 6.9% in the second quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock valued at $89,041,000 after purchasing an additional 37,822 shares during the period. Grand Jean Capital Management Inc. grew its position in shares of Facebook by 14.3% in the first quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after purchasing an additional 15,910 shares during the period. Finally, Segment Wealth Management LLC grew its position in shares of Facebook by 157.5% in the first quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock valued at $1,042,000 after purchasing an additional 4,485 shares during the period. 57.71% of the stock is owned by institutional investors.

In other news, CEO Mark Zuckerberg sold 249,527 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $170.32, for a total transaction of $42,499,438.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $170.10, for a total value of $127,575.00. Following the transaction, the vice president now directly owns 92,191 shares of the company’s stock, valued at $15,681,689.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,802,989 shares of company stock valued at $858,525,203. 17.23% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on FB shares. Cowen reaffirmed an “average” rating and issued a $200.00 price objective (up previously from $195.00) on shares of Facebook in a research report on Wednesday, September 27th. Deutsche Bank reissued a “buy” rating and set a $220.00 price target (up previously from $215.00) on shares of Facebook in a research report on Thursday, September 28th. Citigroup reissued a “buy” rating and set a $200.00 price target on shares of Facebook in a research report on Wednesday, September 27th. KeyCorp reissued a “buy” rating and set a $200.00 price target on shares of Facebook in a research report on Wednesday, October 4th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $190.00 price target on shares of Facebook in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $200.81.

Shares of Facebook Inc (FB) opened at $177.89 on Thursday. The firm has a market capitalization of $521,621.59, a PE ratio of 34.59, a P/E/G ratio of 1.14 and a beta of 0.69. Facebook Inc has a fifty-two week low of $114.77 and a fifty-two week high of $184.25.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. Facebook’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. sell-side analysts anticipate that Facebook Inc will post 5.86 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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