KCM Investment Advisors LLC lessened its holdings in Altaba (NASDAQ:AABA) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,773 shares of the company’s stock after selling 950 shares during the quarter. KCM Investment Advisors LLC’s holdings in Altaba were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in AABA. SeaCrest Wealth Management LLC bought a new position in Altaba in the 4th quarter valued at $103,000. Cullen Frost Bankers Inc. bought a new position in Altaba in the 4th quarter valued at $200,000. Palladium Partners LLC bought a new position in Altaba in the 4th quarter valued at $203,000. Centaurus Financial Inc. bought a new position in Altaba in the 4th quarter valued at $208,000. Finally, Lehman Financial Resources Inc. bought a new position in Altaba in the 4th quarter valued at $209,000. Hedge funds and other institutional investors own 73.84% of the company’s stock.
A number of research analysts have issued reports on the company. BidaskClub downgraded Altaba from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Vetr upgraded Altaba from a “hold” rating to a “buy” rating and set a $81.50 price objective for the company in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on Altaba to $90.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer upped their price objective on Altaba from $98.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, Credit Suisse Group upped their price objective on Altaba from $81.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Altaba has an average rating of “Buy” and an average target price of $71.96.
Altaba (NASDAQ AABA) opened at $74.06 on Friday. Altaba has a 1 year low of $45.74 and a 1 year high of $80.56. The company has a market capitalization of $68,184.62, a price-to-earnings ratio of -3,701.15 and a beta of 2.00.
In related news, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $74.20, for a total transaction of $90,078,800.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Alexi Wellman sold 1,262 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $76.90, for a total value of $97,047.80. Following the sale, the chief financial officer now directly owns 16,643 shares in the company, valued at approximately $1,279,846.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,217,202 shares of company stock worth $90,321,425 in the last ninety days. Insiders own 24.00% of the company’s stock.
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Altaba Inc operates as a non-diversified, closed-end management investment company in the United States. Its assets consist primarily of equity investments, short-term debt investments, and cash. The company was formerly known as Yahoo! Inc and changed its name to Altaba Inc in June 2017. Altaba Inc was founded in 1994 and is based in New York, New York.
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