Allen Investment Management LLC decreased its stake in Facebook, Inc. (NASDAQ:FB) by 20.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 29,325 shares of the social networking company’s stock after selling 7,419 shares during the period. Allen Investment Management LLC’s holdings in Facebook were worth $4,166,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. First Financial Corp IN raised its position 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 in the last quarter. Enterprise Financial Services Corp raised its position 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 in the last quarter. Cordasco Financial Network raised its position 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 in the last quarter. Donald L. Hagan LLC raised its position 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 in the last quarter. Finally, Somerset Group LLC raised its position 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 in the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Facebook, Inc. (NASDAQ:FB) traded down 1.31% on Thursday, hitting $168.94. The stock had a trading volume of 4,872,070 shares. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $175.49. The company’s 50 day moving average is $160.69 and its 200-day moving average is $147.01. The firm has a market capitalization of $490.63 billion, a price-to-earnings ratio of 37.81 and a beta of 0.70.

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

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FB has been the topic of several research reports. Pacific Crest restated an “overweight” rating and set a $155.00 price target on shares of Facebook in a research note on Monday, April 24th. Needham & Company LLC boosted their price target on Facebook from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Wedbush set a $185.00 price target on Facebook and gave the company a “buy” rating in a research note on Thursday, May 4th. Morgan Stanley restated a “buy” rating and set a $175.00 price target on shares of Facebook in a research note on Thursday, May 4th. Finally, Nomura set a $165.00 price target on Facebook and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $180.91.

In other news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $150.10, for a total transaction of $112,575.00. Following the transaction, the vice president now owns 86,761 shares in the company, valued at $13,022,826.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction on Monday, August 7th. The stock was sold at an average price of $169.95, for a total transaction of $2,719,200.00. Following the transaction, the insider now owns 180,871 shares in the company, valued at approximately $30,739,026.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,183,113 shares of company stock worth $1,607,154,643. 19.08% of the stock is owned by company 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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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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