Alibaba Group Holding Ltd (BABA) is OppenheimerFunds Inc.’s Largest Position

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OppenheimerFunds Inc. lifted its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,778,979 shares of the specialty retailer’s stock after buying an additional 1,182,927 shares during the quarter. Alibaba Group comprises 3.5% of OppenheimerFunds Inc.’s portfolio, making the stock its biggest holding. OppenheimerFunds Inc. owned 0.62% of Alibaba Group worth $2,927,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. raised its stake in Alibaba Group by 2,176.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the specialty retailer’s stock valued at $142,000 after purchasing an additional 740 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in Alibaba Group during the 1st quarter valued at approximately $2,685,000. Wellington Shields Capital Management LLC raised its stake in Alibaba Group by 1.9% during the 1st quarter. Wellington Shields Capital Management LLC now owns 21,170 shares of the specialty retailer’s stock valued at $3,886,000 after purchasing an additional 395 shares during the period. C WorldWide Group Holding A S raised its stake in Alibaba Group by 2.8% during the 1st quarter. C WorldWide Group Holding A S now owns 926,733 shares of the specialty retailer’s stock valued at $170,093,000 after purchasing an additional 25,522 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in Alibaba Group by 63.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 363,449 shares of the specialty retailer’s stock valued at $135,096,000 after buying an additional 140,648 shares in the last quarter. 38.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BABA stock opened at $170.44 on Wednesday. Alibaba Group Holding Ltd has a 52-week low of $164.25 and a 52-week high of $211.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $448.23 billion, a P/E ratio of 42.29, a price-to-earnings-growth ratio of 1.25 and a beta of 2.41.

Several research firms have weighed in on BABA. Raymond James cut their price target on Alibaba Group from $300.00 to $280.00 and set a “strong-buy” rating for the company in a report on Thursday, August 16th. MED cut their price target on Alibaba Group to $196.00 and set a “buy” rating for the company in a report on Thursday, August 23rd. SunTrust Banks cut their price target on Alibaba Group from $215.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, August 23rd. Argus began coverage on Alibaba Group in a report on Monday, June 25th. They set a “buy” rating and a $275.00 price target for the company. Finally, Susquehanna Bancshares restated a “positive” rating and set a $305.00 price target on shares of Alibaba Group in a report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Alibaba Group currently has an average rating of “Buy” and an average price target of $228.94.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Further Reading: Fundamental Analysis and Individual Investors

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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