Financial Consulate Inc. Trims Holdings in Facebook, Inc. (FB)

Financial Consulate Inc. lowered its position in Facebook, Inc. (NASDAQ:FB) by 11.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,806 shares of the social networking company’s stock after selling 225 shares during the period. Financial Consulate Inc.’s holdings in Facebook were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Contravisory Investment Management Inc. lifted its position in shares of Facebook by 153.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 200 shares of the social networking company’s stock worth $26,000 after buying an additional 121 shares during the period. Jackson Grant Investment Advisers Inc. bought a new position in shares of Facebook during the 4th quarter worth approximately $31,000. Accurate Investment Solutions Inc. lifted its position in shares of Facebook by 35.6% during the 4th quarter. Accurate Investment Solutions Inc. now owns 453 shares of the social networking company’s stock worth $59,000 after buying an additional 119 shares during the period. Norway Savings Bank lifted its position in shares of Facebook by 28.5% during the 4th quarter. Norway Savings Bank now owns 451 shares of the social networking company’s stock worth $59,000 after buying an additional 100 shares during the period. Finally, New Capital Management LP lifted its position in shares of Facebook by 666.7% during the 4th quarter. New Capital Management LP now owns 575 shares of the social networking company’s stock worth $75,000 after buying an additional 500 shares during the period. Institutional investors own 60.22% of the company’s stock.

NASDAQ FB opened at $183.78 on Wednesday. The firm has a market capitalization of $517.90 billion, a PE ratio of 24.28, a PEG ratio of 1.30 and a beta of 0.88. Facebook, Inc. has a 52 week low of $123.02 and a 52 week high of $218.62.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, January 30th. The social networking company reported $2.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.20. Facebook had a return on equity of 27.51% and a net margin of 39.60%. The company had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.40 billion. During the same period last year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. Sell-side analysts predict that Facebook, Inc. will post 7.54 earnings per share for the current fiscal year.

In related news, CEO Mark Zuckerberg sold 108,000 shares of Facebook stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $179.13, for a total transaction of $19,346,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $171.21, for a total value of $128,407.50. Following the sale, the vice president now directly owns 93,930 shares of the company’s stock, valued at $16,081,755.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,539,435 shares of company stock valued at $269,965,163. 14.53% of the stock is owned by insiders.

FB has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Facebook to $190.00 and gave the company a “positive” rating in a research report on Monday. They noted that the move was a valuation call. Royal Bank of Canada set a $200.00 price objective on Facebook and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded Facebook from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Morgan Stanley lifted their price objective on Facebook from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $200.00 price objective (up previously from $195.00) on shares of Facebook in a research report on Thursday, January 31st. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and forty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $192.72.

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About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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