PNC Financial Services Group Inc. reduced its stake in Altaba Inc (NASDAQ:AABA) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,444 shares of the company’s stock after selling 7,637 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Altaba were worth $3,232,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sageworth Trust Co boosted its position in shares of Altaba by 259.7% in the 3rd quarter. Sageworth Trust Co now owns 2,140 shares of the company’s stock worth $146,000 after purchasing an additional 1,545 shares in the last quarter. NEXT Financial Group Inc bought a new stake in shares of Altaba in the 3rd quarter worth approximately $154,000. Comerica Bank bought a new stake in shares of Altaba in the 2nd quarter worth approximately $204,000. Pitcairn Co. bought a new stake in shares of Altaba in the 2nd quarter worth approximately $209,000. Finally, Centaurus Financial Inc. boosted its position in shares of Altaba by 56.7% in the 2nd quarter. Centaurus Financial Inc. now owns 4,669 shares of the company’s stock worth $342,000 after purchasing an additional 1,689 shares in the last quarter. 71.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on AABA. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $88.00 price target (down from $91.00) on shares of Altaba in a research report on Friday, August 24th. MKM Partners decreased their price objective on shares of Altaba to $115.00 and set a “buy” rating for the company in a report on Thursday, August 16th. ValuEngine lowered shares of Altaba from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, BidaskClub upgraded shares of Altaba from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 18th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $93.42.
Shares of NASDAQ AABA opened at $63.01 on Friday. Altaba Inc has a twelve month low of $55.76 and a twelve month high of $82.45.
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Altaba Company Profile
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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