Oppenheimer & Co. Inc. decreased its stake in Facebook, Inc. (NASDAQ:FB) by 10.6% during the first quarter, Holdings Channel reports. The fund owned 310,921 shares of the social networking company’s stock after selling 37,030 shares during the period. Facebook accounts for approximately 1.3% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 6th largest position. Oppenheimer & Co. Inc.’s holdings in Facebook were worth $44,167,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FB. First Financial Corp IN boosted its stake in shares of Facebook by 0.5% in the first quarter. First Financial Corp IN now owns 2,436 shares of the social networking company’s stock valued at $346,000 after buying an additional 11 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in shares of Facebook by 1.0% in the first quarter. Enterprise Financial Services Corp now owns 2,124 shares of the social networking company’s stock valued at $302,000 after buying an additional 21 shares during the last quarter. Cordasco Financial Network boosted its stake in shares of Facebook by 1.5% in the first quarter. Cordasco Financial Network now owns 2,029 shares of the social networking company’s stock valued at $288,000 after buying an additional 29 shares during the last quarter. Donald L. Hagan LLC boosted its stake in shares of Facebook by 0.8% in the first quarter. Donald L. Hagan LLC now owns 4,240 shares of the social networking company’s stock valued at $602,000 after buying an additional 35 shares during the last quarter. Finally, Somerset Group LLC boosted its stake in shares of Facebook by 0.9% in the first quarter. Somerset Group LLC now owns 3,900 shares of the social networking company’s stock valued at $554,000 after buying an additional 35 shares during the last quarter. Institutional investors own 57.60% of the company’s stock.

Facebook, Inc. (NASDAQ FB) traded up 0.36% during midday trading on Friday, hitting $168.00. The company’s stock had a trading volume of 5,470,533 shares. The stock has a 50 day moving average of $161.08 and a 200 day moving average of $147.16. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49. The company has a market cap of $487.90 billion, a PE ratio of 37.60 and a beta of 0.70.

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

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Several brokerages have recently commented on FB. UBS AG restated a “buy” rating and set a $165.00 target price on shares of Facebook in a report on Wednesday, April 19th. Barclays PLC restated a “neutral” rating on shares of Facebook in a report on Friday, April 14th. Robert W. Baird restated an “outperform” rating and set a $163.00 target price on shares of Facebook in a report on Thursday, May 4th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $154.73 price target on the stock in a report on Wednesday, May 17th. Finally, BidaskClub upgraded Facebook from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and a consensus price target of $182.00.

In related news, Director Jan Koum sold 594,246 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $149.73, for a total value of $88,976,453.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $150.10, for a total value of $112,575.00. Following the completion of the sale, the vice president now directly owns 86,761 shares in the company, valued at $13,022,826.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,221,076 shares of company stock worth $1,613,683,519. Company insiders own 19.08% of the company’s stock.

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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