Granite Investment Partners LLC trimmed its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,928 shares of the social networking company’s stock after selling 9,074 shares during the period. Facebook comprises approximately 1.6% of Granite Investment Partners LLC’s investment portfolio, making the stock its largest holding. Granite Investment Partners LLC’s holdings in Facebook were worth $24,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FB. Vanguard Group Inc. increased its holdings in Facebook by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the last quarter. BlackRock Inc. increased its holdings in Facebook by 3.0% in the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the last quarter. Capital World Investors increased its holdings in Facebook by 1.5% in the 2nd quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after acquiring an additional 833,810 shares during the last quarter. Northern Trust Corp increased its holdings in Facebook by 0.4% in the 2nd quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after acquiring an additional 114,694 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Facebook by 1.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 16,088,607 shares of the social networking company’s stock worth $2,429,058,000 after acquiring an additional 198,882 shares during the last quarter. Institutional investors own 58.47% of the company’s stock.

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Several brokerages recently weighed in on FB. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 price objective for the company in a report on Wednesday, January 10th. BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Aegis lifted their price objective on Facebook from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Citigroup reissued a “buy” rating and issued a $220.00 price objective on shares of Facebook in a report on Thursday, February 1st. They noted that the move was a valuation call. Finally, JMP Securities set a $235.00 price objective on Facebook and gave the stock a “buy” rating in a report on Thursday, February 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating, forty-one have assigned a buy rating and two have given a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and a consensus target price of $209.83.

In related news, VP David B. Fischer sold 5,587 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $187.66, for a total value of $1,048,456.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $177.25, for a total value of $9,748,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,102,678 shares of company stock valued at $1,241,324,653. Corporate insiders own 17.23% of the company’s stock.

Shares of FB opened at $164.83 on Tuesday. The stock has a market cap of $477,930.63, a PE ratio of 26.76, a price-to-earnings-growth ratio of 0.89 and a beta of 0.80. Facebook, Inc. has a 12-month low of $139.75 and a 12-month high of $195.32.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.24. The firm had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion. Facebook had a return on equity of 26.49% and a net margin of 39.16%. sell-side analysts forecast that Facebook, Inc. will post 7.13 earnings per share for the current 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.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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