IFP Advisors Inc purchased a new position in Yahoo! Inc. (NASDAQ:AABA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,418 shares of the company’s stock, valued at approximately $350,000.

Separately, Congress Asset Management Co. MA acquired a new stake in shares of Yahoo! during the second quarter worth about $300,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Yahoo! Inc. (AABA) opened at 59.99 on Wednesday. Yahoo! Inc. has a 52 week low of $38.24 and a 52 week high of $60.44. The company’s 50-day moving average price is $57.31 and its 200 day moving average price is $50.42. The stock’s market capitalization is $57.54 billion.

COPYRIGHT VIOLATION NOTICE: This report was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The original version of this report can be read at https://www.watchlistnews.com/ifp-advisors-inc-purchases-shares-of-6418-yahoo-inc-aaba/1493367.html.

A number of equities research analysts recently issued reports on AABA shares. Vetr raised Yahoo! from a “sell” rating to a “buy” rating and set a $53.02 price target for the company in a research note on Wednesday, May 3rd. BidaskClub lowered Yahoo! from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised Yahoo! from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Friday, April 21st. Cantor Fitzgerald set a $53.00 price target on Yahoo! and gave the stock a “buy” rating in a research note on Tuesday, April 18th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $57.00 price target (up from $52.00) on shares of Yahoo! in a research note on Wednesday, April 19th. Fourteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Yahoo! presently has an average rating of “Buy” and an average price target of $50.50.

About Yahoo!

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.

Want to see what other hedge funds are holding AABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yahoo! Inc. (NASDAQ:AABA).

Institutional Ownership by Quarter for Yahoo! (NASDAQ:AABA)

Receive News & Ratings for Yahoo! Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yahoo! Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.