State Treasurer State of Michigan Has $108.62 Million Holdings in Facebook, Inc. (FB)

State Treasurer State of Michigan decreased its holdings in shares of Facebook, Inc. (NASDAQ:FB) by 31.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 828,574 shares of the social networking company’s stock after selling 380,542 shares during the period. Facebook accounts for 1.0% of State Treasurer State of Michigan’s portfolio, making the stock its 16th largest position. State Treasurer State of Michigan’s holdings in Facebook were worth $108,618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FB. Contravisory Investment Management Inc. grew its holdings in shares of Facebook by 153.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 200 shares of the social networking company’s stock valued at $26,000 after buying an additional 121 shares during the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Facebook during the fourth quarter valued at approximately $31,000. Signet Investment Advisory Group Inc. purchased a new stake in shares of Facebook during the fourth quarter valued at approximately $39,000. Ruggie Capital Group grew its holdings in shares of Facebook by 53.8% during the fourth quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock valued at $58,000 after buying an additional 156 shares during the last quarter. Finally, Norway Savings Bank grew its holdings in shares of Facebook by 28.5% during the fourth quarter. Norway Savings Bank now owns 451 shares of the social networking company’s stock valued at $59,000 after buying an additional 100 shares during the last quarter. 60.22% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on FB shares. Royal Bank of Canada set a $200.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Canaccord Genuity raised their target price on shares of Facebook from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barclays raised their target price on shares of Facebook from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Monness Crespi & Hardt restated a “buy” rating and issued a $250.00 target price (up previously from $225.00) on shares of Facebook in a report on Thursday, April 25th. Finally, Robert W. Baird raised their target price on shares of Facebook from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating and forty-one have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $206.58.

In other news, CFO David M. Wehner sold 4,979 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $160.35, for a total transaction of $798,382.65. Following the sale, the chief financial officer now directly owns 49,214 shares in the company, valued at approximately $7,891,464.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $162.02, for a total transaction of $121,515.00. Following the sale, the vice president now owns 101,198 shares in the company, valued at $16,396,099.96. The disclosure for this sale can be found here. Insiders have sold a total of 1,496,562 shares of company stock worth $264,031,741 over the last 90 days. Insiders own 14.53% of the company’s stock.

Shares of Facebook stock opened at $186.27 on Thursday. The firm has a market cap of $541.11 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. Facebook, Inc. has a 1-year low of $123.02 and a 1-year high of $218.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.38 and a current ratio of 5.38.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.80). The business had revenue of $15.08 billion for the quarter, compared to analysts’ expectations of $14.97 billion. Facebook had a return on equity of 23.67% and a net margin of 33.17%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.69 EPS. As a group, equities analysts expect that Facebook, Inc. will post 8.05 EPS for the current fiscal year.

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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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