Cambridge Investment Research Advisors Inc. boosted its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 21.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,174 shares of the specialty retailer’s stock after purchasing an additional 19,057 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Alibaba Group were worth $17,988,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. RNC Capital Management LLC boosted its position in shares of Alibaba Group by 16.9% in the second quarter. RNC Capital Management LLC now owns 1,905 shares of the specialty retailer’s stock valued at $353,000 after acquiring an additional 275 shares during the period. Private Asset Management Inc. lifted its position in Alibaba Group by 0.9% in the second quarter. Private Asset Management Inc. now owns 30,193 shares of the specialty retailer’s stock worth $5,542,000 after purchasing an additional 276 shares during the period. First United Bank Trust lifted its position in Alibaba Group by 4.9% in the second quarter. First United Bank Trust now owns 5,942 shares of the specialty retailer’s stock worth $1,102,000 after purchasing an additional 280 shares during the period. Viridian Ria LLC raised its stake in Alibaba Group by 5.2% during the second quarter. Viridian Ria LLC now owns 5,749 shares of the specialty retailer’s stock worth $1,067,000 after acquiring an additional 285 shares in the last quarter. Finally, Wagner Bowman Management Corp raised its stake in Alibaba Group by 20.9% during the second quarter. Wagner Bowman Management Corp now owns 1,680 shares of the specialty retailer’s stock worth $311,000 after acquiring an additional 290 shares in the last quarter. 38.76% of the stock is owned by hedge funds and other institutional investors.
BABA has been the subject of several recent analyst reports. CLSA set a $240.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research note on Monday, September 24th. HSBC initiated coverage on Alibaba Group in a research note on Wednesday, September 12th. They set a “buy” rating for the company. Zacks Investment Research upgraded Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 8th. ValuEngine upgraded Alibaba Group from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, Benchmark dropped their price objective on Alibaba Group from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $216.02.
Shares of NYSE:BABA opened at $144.64 on Tuesday. Alibaba Group Holding Ltd has a twelve month low of $130.06 and a twelve month high of $211.70. The firm has a market capitalization of $378.00 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 1.15 and a beta of 2.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 1.44.
Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. Alibaba Group had a return on equity of 13.15% and a net margin of 19.33%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $12.51 billion. During the same period last year, the company posted $1.29 earnings per share. The firm’s quarterly revenue was up 49.6% compared to the same quarter last year. Equities analysts anticipate that Alibaba Group Holding Ltd will post 3.72 earnings per share for the current year.
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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.
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