Brown Advisory Inc. reduced its holdings in shares of Altaba Inc (NASDAQ:AABA) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,125,630 shares of the company’s stock after selling 78,269 shares during the quarter. Brown Advisory Inc.’s holdings in Altaba were worth $148,475,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. First Republic Investment Management Inc. grew its stake in Altaba by 5.1% during the fourth quarter. First Republic Investment Management Inc. now owns 16,825 shares of the company’s stock worth $1,175,000 after buying an additional 815 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Altaba by 14.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,735 shares of the company’s stock worth $610,000 after buying an additional 1,106 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in Altaba during the fourth quarter worth approximately $103,000. Bronfman E.L. Rothschild L.P. grew its stake in Altaba by 57.2% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,617 shares of the company’s stock worth $392,000 after buying an additional 2,043 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in Altaba during the fourth quarter worth approximately $200,000. Institutional investors own 77.98% of the company’s stock.
Several research firms have issued reports on AABA. Vetr upgraded shares of 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. BidaskClub upgraded shares of Altaba from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $61.46.
Altaba Inc (NASDAQ AABA) opened at $74.59 on Wednesday. The firm has a market cap of $64,202.02, a price-to-earnings ratio of 294.04 and a beta of 2.01. Altaba Inc has a 52 week low of $44.95 and a 52 week high of $80.56.
In related news, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $74.20, for a total value of $90,078,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tor Braham sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $68.83, for a total transaction of $688,300.00. Following the completion of the sale, the director now directly owns 9,434 shares in the company, valued at $649,342.22. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by corporate insiders.
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Altaba Company Profile
Altaba Inc (the Fund), formerly Yahoo! Inc, is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation ((Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan.
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