Altaba (NASDAQ:AABA) had its price objective raised by JPMorgan Chase & Co. to $90.00 in a report released on Friday morning, The Fly reports. They currently have an overweight rating on the stock.
Other equities analysts have also recently issued research reports about the company. BidaskClub raised Altaba from a hold rating to a buy rating in a report on Tuesday, January 30th. Vetr cut Altaba from a hold rating to a sell rating and set a $73.32 price objective for the company. in a report on Tuesday, January 23rd. Finally, UBS Group reissued a buy rating and issued a $98.00 price objective (up previously from $92.00) on shares of Altaba in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $68.05.
Altaba (NASDAQ AABA) opened at $78.08 on Friday. The stock has a market capitalization of $68,190.00, a PE ratio of 41.75 and a beta of 2.01. Altaba has a fifty-two week low of $45.24 and a fifty-two week high of $80.56.
Several institutional investors have recently made changes to their positions in the stock. First Republic Investment Management Inc. increased its stake in shares of Altaba by 5.1% in the 4th quarter. First Republic Investment Management Inc. now owns 16,825 shares of the company’s stock valued at $1,175,000 after purchasing an additional 815 shares in the last quarter. OTA Financial Group L.P. increased its stake in shares of Altaba by 3.6% in the 4th quarter. OTA Financial Group L.P. now owns 29,049 shares of the company’s stock valued at $2,029,000 after purchasing an additional 1,006 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Altaba by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,735 shares of the company’s stock valued at $610,000 after purchasing an additional 1,106 shares in the last quarter. Commerce Bank increased its stake in shares of Altaba by 22.8% in the 4th quarter. Commerce Bank now owns 6,190 shares of the company’s stock valued at $433,000 after purchasing an additional 1,150 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Altaba in the 4th quarter valued at about $103,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
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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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