BB&T Securities LLC Invests $596,000 in Altaba (AABA) Stock

BB&T Securities LLC acquired a new stake in Altaba (NASDAQ:AABA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 8,534 shares of the company’s stock, valued at approximately $596,000.

Other large investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new position in Altaba in the fourth quarter valued at about $103,000. Cullen Frost Bankers Inc. purchased a new position in Altaba in the fourth quarter valued at about $200,000. Palladium Partners LLC purchased a new position in Altaba in the fourth quarter valued at about $203,000. Centaurus Financial Inc. purchased a new position in Altaba in the fourth quarter valued at about $208,000. Finally, Lehman Financial Resources Inc. purchased a new position in Altaba in the fourth quarter valued at about $209,000. 73.84% of the stock is currently owned by institutional investors.

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AABA has been the topic of several research reports. BidaskClub raised Altaba from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Vetr raised Altaba from a “sell” rating to a “hold” rating and set a $73.32 price objective on the stock in a research report on Tuesday, January 16th. UBS reissued a “buy” rating and issued a $98.00 price objective (up from $92.00) on shares of Altaba in a research report on Thursday, February 22nd. JPMorgan Chase raised their price objective on Altaba to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Oppenheimer raised their price objective on Altaba from $98.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $71.96.

In related news, CFO Alexi Wellman sold 1,262 shares of Altaba 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 completion of the transaction, the chief financial officer now directly owns 16,643 shares in the company, valued at $1,279,846.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of Altaba stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $74.20, for a total value of $90,078,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,217,202 shares of company stock worth $90,321,425. Corporate insiders own 24.00% of the company’s stock.

Shares of NASDAQ AABA opened at $74.04 on Friday. Altaba has a 1 year low of $45.96 and a 1 year high of $80.56. The stock has a market cap of $64,664.91, a PE ratio of 296.16 and a beta of 2.00.

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Altaba 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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Institutional Ownership by Quarter for Altaba (NASDAQ:AABA)

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