Nippon Life Insurance Co. reduced its stake in Yahoo! Inc. (NASDAQ:YHOO) by 12.2% during the first quarter, Holdings Channel reports. The firm owned 40,339 shares of the digital content provider’s stock after selling 5,612 shares during the period. Nippon Life Insurance Co.’s holdings in Yahoo! were worth $1,872,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama raised its position in shares of Yahoo! by 2.0% in the first quarter. Retirement Systems of Alabama now owns 424,310 shares of the digital content provider’s stock valued at $19,692,000 after buying an additional 8,257 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Yahoo! during the first quarter valued at about $245,000. DnB Asset Management AS raised its position in shares of Yahoo! by 10.0% in the first quarter. DnB Asset Management AS now owns 116,150 shares of the digital content provider’s stock valued at $5,391,000 after buying an additional 10,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Yahoo! during the first quarter valued at about $2,115,000. Finally, Ipswich Investment Management Co. Inc. purchased a new position in shares of Yahoo! during the first quarter valued at about $709,000. Institutional investors and hedge funds own 78.06% of the company’s stock.
Shares of Yahoo! Inc. (NASDAQ:YHOO) traded down 0.31% on Friday, hitting $47.52. The company’s stock had a trading volume of 7,051,094 shares. The firm’s market cap is $45.45 billion. Yahoo! Inc. has a one year low of $35.05 and a one year high of $47.88. The stock has a 50-day moving average price of $46.49 and a 200 day moving average price of $43.19.
Yahoo! (NASDAQ:YHOO) last issued its quarterly earnings results on Tuesday, April 18th. The digital content provider reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Yahoo! had a negative net margin of 4.15% and a positive return on equity of 0.65%. The company earned $833.80 million during the quarter, compared to analysts’ expectations of $814.32 million. During the same quarter last year, the company posted $0.08 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that Yahoo! Inc. will post $0.69 EPS for the current year.
Several brokerages have recently issued reports on YHOO. B. Riley reissued a “neutral” rating and issued a $44.00 target price on shares of Yahoo! in a research report on Tuesday, January 24th. Zacks Investment Research raised Yahoo! from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Friday. Vetr lowered Yahoo! from a “buy” rating to a “hold” rating and set a $49.02 price objective for the company. in a research report on Monday, April 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Yahoo! in a research report on Tuesday. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $57.00 price objective on shares of Yahoo! in a research report on Wednesday. Eighteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.15.
In other Yahoo! news, CRO Lisa Utzschneider sold 920 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $41.95, for a total value of $38,594.00. Following the completion of the transaction, the executive now owns 581,403 shares of the company’s stock, valued at approximately $24,389,855.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,577 shares of company stock valued at $114,928 in the last three months. 9.20% of the stock is currently owned by corporate insiders.
Yahoo! Inc (Yahoo), along with its subsidiaries, is engaged in digital information discovery. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company focuses on informing, connecting and entertaining its users with its search (Yahoo search), communications, including Yahoo Mail and Yahoo Messenger, and digital content products, including Tumblr, and its four verticals, such as Yahoo News, Yahoo Sports, Yahoo Finance and Yahoo Lifestyle.
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