American National Bank Cuts Stake in Facebook, Inc. (FB)

American National Bank reduced its stake in shares of Facebook, Inc. (NASDAQ:FB) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,334 shares of the social networking company’s stock after selling 407 shares during the period. Facebook makes up approximately 1.5% of American National Bank’s investment portfolio, making the stock its 27th largest position. American National Bank’s holdings in Facebook were worth $4,735,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hemenway Trust Co LLC purchased a new stake in shares of Facebook during the fourth quarter valued at approximately $109,000. GFI Investment Counsel Ltd. purchased a new stake in shares of Facebook during the fourth quarter valued at approximately $115,000. Massey Quick & Co. LLC purchased a new stake in shares of Facebook during the fourth quarter valued at approximately $129,000. Cable Hill Partners LLC raised its stake in shares of Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares in the last quarter. Finally, Empirical Finance LLC purchased a new stake in shares of Facebook during the fourth quarter valued at approximately $132,000. Institutional investors and hedge funds own 58.65% of the company’s stock.

Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

Facebook, Inc. (FB) traded up 0.56% during trading on Friday, reaching $150.64. The company’s stock had a trading volume of 22,882,417 shares. Facebook, Inc. has a 12 month low of $108.23 and a 12 month high of $155.59. The company has a market cap of $436.58 billion, a P/E ratio of 38.30 and a beta of 0.66. The stock’s 50-day moving average is $150.69 and its 200 day moving average is $136.55.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.16. Facebook had a net margin of 36.45% and a return on equity of 20.27%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was up 49.2% compared to the same quarter last year. On average, equities analysts forecast that Facebook, Inc. will post $4.85 EPS for the current fiscal year.

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Several equities research analysts have commented on FB shares. Aegis started coverage on Facebook in a research note on Tuesday, February 28th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $144.24 target price for the company in a research note on Tuesday, February 28th. Nomura reiterated a “buy” rating and issued a $155.00 target price on shares of Facebook in a research note on Friday, March 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $150.00 target price on shares of Facebook in a research note on Wednesday, February 22nd. Finally, Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of Facebook in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $164.40.

In related news, CEO Mark Zuckerberg sold 375,332 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $139.87, for a total transaction of $52,497,686.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Desmond-Hellmann sold 209 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $144.67, for a total transaction of $30,236.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,482,927 shares of company stock valued at $1,102,165,009. 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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