Louisiana State Employees Retirement System Sells 5,100 Shares of Facebook, Inc. (FB)

Louisiana State Employees Retirement System trimmed its position in shares of Facebook, Inc. (NASDAQ:FB) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,200 shares of the social networking company’s stock after selling 5,100 shares during the period. Facebook accounts for approximately 1.2% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 4th biggest position. Louisiana State Employees Retirement System’s holdings in Facebook were worth $27,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Winslow Evans & Crocker Inc. increased its holdings in shares of Facebook by 2.2% in the second quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock valued at $2,462,000 after purchasing an additional 274 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Facebook by 8.5% in the fourth quarter. Venturi Wealth Management LLC now owns 3,627 shares of the social networking company’s stock valued at $640,000 after purchasing an additional 284 shares during the last quarter. Harvest Group Wealth Management LLC increased its holdings in shares of Facebook by 2.4% in the first quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock valued at $1,986,000 after purchasing an additional 286 shares during the last quarter. Truewealth LLC increased its holdings in shares of Facebook by 7.1% in the second quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock valued at $837,000 after purchasing an additional 287 shares during the last quarter. Finally, Risk Paradigm Group LLC increased its holdings in shares of Facebook by 81.4% in the fourth quarter. Risk Paradigm Group LLC now owns 655 shares of the social networking company’s stock valued at $116,000 after purchasing an additional 294 shares during the last quarter. Institutional investors and hedge funds own 60.39% of the company’s stock.

Several research firms have commented on FB. BidaskClub upgraded shares of Facebook from a “sell” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $195.00 price objective on shares of Facebook in a report on Wednesday. ValuEngine upgraded shares of Facebook from a “sell” rating to a “hold” rating in a report on Monday. Barclays reiterated a “buy” rating and issued a $180.00 price objective on shares of Facebook in a report on Friday, September 14th. Finally, Cleveland Research restated a “buy” rating on shares of Facebook in a research note on Thursday, September 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and an average target price of $206.65.

FB opened at $168.84 on Friday. Facebook, Inc. has a twelve month low of $149.02 and a twelve month high of $218.62. The stock has a market cap of $479.06 billion, a P/E ratio of 27.41, a PEG ratio of 1.06 and a beta of 0.49.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 25th. The social networking company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The company had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $13.35 billion. Facebook had a return on equity of 28.16% and a net margin of 39.31%. The firm’s revenue was up 41.9% compared to the same quarter last year. During the same period last year, the company posted $1.32 EPS. analysts expect that Facebook, Inc. will post 7.08 EPS for the current fiscal year.

In other news, CEO Mark Zuckerberg sold 240,000 shares of the stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $216.71, for a total value of $52,010,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $164.29, for a total transaction of $123,217.50. Following the completion of the transaction, the vice president now directly owns 94,644 shares of the company’s stock, valued at approximately $15,549,062.76. The disclosure for this sale can be found here. Insiders sold 7,859,098 shares of company stock valued at $1,505,338,540 in the last three months. Company insiders own 17.23% of the company’s stock.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Institutional Ownership by Quarter for Facebook (NASDAQ:FB)

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