UBS AG Reaffirms Buy Rating for Altaba Inc (YHOO)
UBS AG reiterated their buy rating on shares of Altaba Inc (NASDAQ:YHOO) in a report released on Friday morning, www.tipranks.com reports. UBS AG currently has a $77.00 target price on the stock.
Separately, MKM Partners restated a buy rating and set a $76.00 price target on shares of Altaba in a research report on Friday, September 1st.
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Hedge funds have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America lifted its holdings in Altaba by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,386 shares of the company’s stock worth $157,000 after purchasing an additional 23 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Altaba in the first quarter worth about $209,000. First Financial Equity Corporation acquired a new stake in Altaba in the first quarter worth about $216,000. Wellington Management Group LLP acquired a new stake in Altaba in the first quarter worth about $231,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Altaba in the first quarter worth about $323,000.
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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