Douglas Lane & Associates LLC raised its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 31.6% in the second quarter, HoldingsChannel.com reports. The fund owned 139,044 shares of the specialty retailer’s stock after buying an additional 33,370 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Alibaba Group were worth $23,561,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of BABA. BlackRock Inc. boosted its position in shares of Alibaba Group by 5.9% during the first quarter. BlackRock Inc. now owns 71,703,442 shares of the specialty retailer’s stock worth $13,082,292,000 after buying an additional 3,969,960 shares during the period. Baillie Gifford & Co. lifted its position in Alibaba Group by 3.6% in the first quarter. Baillie Gifford & Co. now owns 49,028,056 shares of the specialty retailer’s stock worth $8,945,169,000 after purchasing an additional 1,716,763 shares during the period. FMR LLC lifted its position in Alibaba Group by 11.0% in the first quarter. FMR LLC now owns 20,955,847 shares of the specialty retailer’s stock worth $3,823,395,000 after purchasing an additional 2,070,115 shares during the period. FIL Ltd lifted its position in Alibaba Group by 4.9% in the first quarter. FIL Ltd now owns 14,935,906 shares of the specialty retailer’s stock worth $2,725,056,000 after purchasing an additional 703,227 shares during the period. Finally, Norges Bank acquired a new stake in Alibaba Group in the fourth quarter worth approximately $1,734,020,000. Institutional investors own 40.68% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barclays upped their target price on NetEase from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. UBS Group set a $210.00 price target on Alibaba Group and gave the company a “buy” rating in a report on Tuesday, June 11th. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the company a “buy” rating in a report on Friday, July 12th. Loop Capital started coverage on TENCENT HOLDING/ADR in a report on Monday, June 3rd. They issued a “buy” rating on the stock. Finally, Raymond James set a C$3.50 price target on StorageVault Canada and gave the company a “strong-buy” rating in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $217.70.
Shares of NYSE BABA traded up $4.09 during midday trading on Tuesday, reaching $178.09. 19,024,917 shares of the stock were exchanged, compared to its average volume of 16,360,882. The business’s 50-day moving average is $166.93. The stock has a market capitalization of $440.15 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 1.26 and a beta of 2.30. Alibaba Group Holding Ltd has a 12 month low of $129.77 and a 12 month high of $198.35. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.18.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $7.82. The company had revenue of $93.50 billion for the quarter, compared to analysts’ expectations of $91.68 billion. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. The business’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same period last year, the firm posted $5.73 earnings per share. Equities research analysts anticipate that Alibaba Group Holding Ltd will post 5.12 earnings per share for the current year.
Alibaba Group Profile
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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