Independent Portfolio Consultants Inc. lessened its position in shares of Facebook, Inc. (NASDAQ:FB) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,983 shares of the social networking company’s stock after selling 5,378 shares during the quarter. Facebook comprises 1.4% of Independent Portfolio Consultants Inc.’s holdings, making the stock its 3rd biggest position. Independent Portfolio Consultants Inc.’s holdings in Facebook were worth $3,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI raised its stake in shares of Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares in the last quarter. Cohen Capital Management Inc. bought a new position in shares of Facebook during the 1st quarter worth approximately $121,000. Pacific Center for Financial Services raised its stake in shares of Facebook by 10.7% during the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after acquiring an additional 88 shares in the last quarter. Watermark Asset Management Inc. bought a new position in shares of Facebook during the 1st quarter worth approximately $141,000. Finally, Viking Fund Management LLC bought a new position in shares of Facebook during the 1st quarter worth approximately $142,000. Hedge funds and other institutional investors own 57.30% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Facebook, Inc. (FB) Position Lowered by Independent Portfolio Consultants Inc.” was originally reported by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/09/14/facebook-inc-fb-position-lowered-by-independent-portfolio-consultants-inc.html.

In other Facebook news, COO Sheryl Sandberg sold 131,500 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $152.65, for a total value of $20,073,475.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $152.87, for a total value of $114,652.50. Following the completion of the transaction, the vice president now owns 87,656 shares of the company’s stock, valued at approximately $13,399,972.72. The disclosure for this sale can be found here. Insiders have sold a total of 13,071,103 shares of company stock valued at $2,134,223,843 in the last quarter. Company insiders own 19.08% of the company’s stock.

Shares of Facebook, Inc. (NASDAQ:FB) traded down 1.07% during mid-day trading on Thursday, reaching $171.20. 8,899,684 shares of the company traded hands. The firm’s 50 day moving average price is $169.69 and its 200-day moving average price is $153.28. The company has a market capitalization of $497.20 billion, a P/E ratio of 38.32 and a beta of 0.76. Facebook, Inc. has a 52-week low of $113.55 and a 52-week high of $175.49.

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

FB has been the subject of several recent analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $175.00 price objective on shares of Facebook in a research note on Friday, June 16th. Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $156.06 price objective for the company. in a research note on Thursday, May 25th. Cantor Fitzgerald set a $180.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Robert W. Baird reiterated a “buy” rating and set a $185.00 price objective on shares of Facebook in a research note on Friday, September 1st. Finally, Moffett Nathanson reiterated a “buy” rating on shares of Facebook in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned 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 target price of $183.74.

Facebook Profile

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)

Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.