Hutchens Investment Management Inc trimmed its stake in shares of Facebook Inc (NASDAQ:FB) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,810 shares of the social networking company’s stock after selling 560 shares during the period. Facebook comprises about 2.1% of Hutchens Investment Management Inc’s portfolio, making the stock its 16th largest position. Hutchens Investment Management Inc’s holdings in Facebook were worth $2,260,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of FB. Moisand Fitzgerald Tamayo LLC bought a new position in Facebook in the third quarter valued at $111,000. Mountain Capital Investment Advisors Inc bought a new position in Facebook in the second quarter valued at $138,000. Stelac Advisory Services LLC bought a new position in shares of Facebook in the 3rd quarter valued at about $152,000. Odey Holdings AG grew its position in shares of Facebook by 5.4% in the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after acquiring an additional 54 shares during the period. Finally, Almanack Investment Partners LLC. bought a new position in shares of Facebook in the 2nd quarter valued at about $165,000. Institutional investors and hedge funds own 58.48% of the company’s stock.
FB has been the subject of a number of analyst reports. Vetr raised shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $197.10 price objective for the company in a research report on Wednesday, November 29th. MKM Partners lifted their price objective on shares of Facebook to $240.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Evercore ISI initiated coverage on shares of Facebook in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $225.00 price objective for the company. Wells Fargo & Co reissued a “buy” rating and issued a $215.00 price objective on shares of Facebook in a research report on Tuesday, December 5th. Finally, Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $214.70.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The business had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $12.58 billion. equities research analysts expect that Facebook Inc will post 7.28 earnings per share for the current year.
In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $178.83, for a total value of $134,122.50. Following the completion of the sale, the vice president now owns 83,296 shares in the company, valued at approximately $14,895,823.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 220,000 shares of Facebook stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.39, for a total transaction of $39,025,800.00. The disclosure for this sale can be found here. Insiders sold a total of 4,049,123 shares of company stock valued at $721,268,619 in the last quarter. Corporate insiders own 17.23% of the company’s stock.
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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