The Destination Wealth Management Purchases New Position in Yahoo! Inc. (YHOO)

The Destination Wealth Management Purchases New Position in Yahoo! Inc. (YHOO)

Destination Wealth Management purchased a new stake in Yahoo! Inc. (NASDAQ:YHOO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,300 shares of the digital content provider’s stock, valued at approximately $444,000.

A number of other large investors also recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in Yahoo! by 0.9% in the third quarter. California State Teachers Retirement System now owns 1,907,442 shares of the digital content provider’s stock worth $82,211,000 after buying an additional 16,100 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Yahoo! during the third quarter worth approximately $3,017,000. Macquarie Group Ltd. boosted its stake in Yahoo! by 6.9% in the second quarter. Macquarie Group Ltd. now owns 1,207,700 shares of the digital content provider’s stock worth $45,361,000 after buying an additional 77,450 shares during the period. BlackRock Japan Co. Ltd boosted its stake in Yahoo! by 3.0% in the third quarter. BlackRock Japan Co. Ltd now owns 1,183,039 shares of the digital content provider’s stock worth $50,989,000 after buying an additional 34,663 shares during the period. Finally, BlackRock Inc. boosted its stake in Yahoo! by 1.0% in the third quarter. BlackRock Inc. now owns 1,689,101 shares of the digital content provider’s stock worth $72,800,000 after buying an additional 17,195 shares during the period. 77.54% of the stock is currently owned by institutional investors.

Shares of Yahoo! Inc. (NASDAQ:YHOO) traded up 0.10% on Wednesday, reaching $42.03. 3,594,963 shares of the company’s stock traded hands. The firm’s market capitalization is $40.10 billion. Yahoo! Inc. has a 52 week low of $26.15 and a 52 week high of $44.92. The company has a 50 day moving average price of $40.31 and a 200 day moving average price of $41.06.

Yahoo! (NASDAQ:YHOO) last announced its quarterly earnings data on Tuesday, October 18th. The digital content provider reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The company earned $857 million during the quarter, compared to analyst estimates of $1.31 billion. Yahoo! had a negative net margin of 96.74% and a positive return on equity of 0.16%. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. On average, equities research analysts predict that Yahoo! Inc. will post $0.58 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on YHOO. B. Riley reaffirmed a “neutral” rating and issued a $44.00 price target on shares of Yahoo! in a research note on Monday, October 24th. Bank of America Corporation reaffirmed a “buy” rating and issued a $55.00 price target on shares of Yahoo! in a research note on Friday, November 11th. Vetr lowered shares of Yahoo! from a “strong-buy” rating to a “buy” rating and set a $44.63 price target on the stock. in a research note on Tuesday, December 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $42.00 price target on shares of Yahoo! in a research note on Wednesday. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $39.00 price target on shares of Yahoo! in a research note on Wednesday, December 21st. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.83.

In other Yahoo! news, CRO Lisa Utzschneider sold 683 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $41.13, for a total transaction of $28,091.79. Following the completion of the transaction, the executive now directly owns 597,297 shares of the company’s stock, valued at approximately $24,566,825.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.20% of the company’s stock.

Yahoo! Company Profile

Yahoo! Inc (Yahoo), along with its subsidiaries, is engaged in digital information discovery. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company focuses on informing, connecting and entertaining its users with its search (Yahoo search), communications, including Yahoo Mail and Yahoo Messenger, and digital content products, including Tumblr, and its four verticals, such as Yahoo News, Yahoo Sports, Yahoo Finance and Yahoo Lifestyle.

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