BigSur Wealth Management LLC cut its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 8.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,555 shares of the specialty retailer’s stock after selling 225 shares during the period. BigSur Wealth Management LLC’s holdings in Alibaba Group were worth $447,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Comerica Securities Inc. lifted its position in Alibaba Group by 51.9% during the fourth quarter. Comerica Securities Inc. now owns 5,435 shares of the specialty retailer’s stock valued at $745,000 after purchasing an additional 1,857 shares during the period. Castle Rock Wealth Management LLC raised its position in Alibaba Group by 8.4% in the fourth quarter. Castle Rock Wealth Management LLC now owns 2,426 shares of the specialty retailer’s stock worth $417,000 after acquiring an additional 188 shares during the period. Dimensional Fund Advisors LP raised its position in Alibaba Group by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,818,587 shares of the specialty retailer’s stock worth $386,814,000 after acquiring an additional 35,509 shares during the period. Geode Capital Management LLC raised its position in Alibaba Group by 11.1% in the fourth quarter. Geode Capital Management LLC now owns 2,450,597 shares of the specialty retailer’s stock worth $333,476,000 after acquiring an additional 244,334 shares during the period. Finally, Altimeter Capital Management LP raised its position in Alibaba Group by 71.1% in the fourth quarter. Altimeter Capital Management LP now owns 124,350 shares of the specialty retailer’s stock worth $17,045,000 after acquiring an additional 51,675 shares during the period. 40.68% of the stock is currently owned by hedge funds and other institutional investors.
BABA has been the topic of several recent research reports. Raymond James set a C$3.50 price target on shares of StorageVault Canada and gave the stock a “strong-buy” rating in a research report on Thursday, May 16th. Benchmark reiterated a “buy” rating and issued a $305.00 price target (up from $295.00) on shares of NetEase in a research report on Thursday, May 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $220.00 price target on shares of Alibaba Group in a research report on Friday, May 24th. KeyCorp increased their price target on shares of KLA-Tencor from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Robert W. Baird increased their price target on shares of Total System Services from $98.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, March 29th. One analyst has rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $217.70.
Shares of BABA stock traded up $4.09 on Tuesday, hitting $178.09. 19,024,917 shares of the stock traded hands, compared to its average volume of 16,360,882. The stock has a market cap of $440.15 billion, a price-to-earnings 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 52 week low of $129.77 and a 52 week high of $198.35. The business has a 50 day moving average price of $166.93. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion for the quarter, compared to the consensus estimate of $91.68 billion. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. The company’s revenue was up 51.0% on a year-over-year basis. During the same period last year, the firm earned $5.73 EPS. Analysts forecast that Alibaba Group Holding Ltd will post 5.12 earnings per share for the current fiscal 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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