Lenox Wealth Management Inc. raised its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 88.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 319 shares of the specialty retailer’s stock after buying an additional 150 shares during the period. Lenox Wealth Management Inc.’s holdings in Alibaba Group were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Destination Wealth Management grew its holdings in Alibaba Group by 30.4% during the 2nd quarter. Destination Wealth Management now owns 1,569 shares of the specialty retailer’s stock worth $266,000 after acquiring an additional 366 shares during the period. Davy Asset Management Ltd bought a new position in shares of Alibaba Group during the second quarter worth $530,000. FDx Advisors Inc. boosted its position in shares of Alibaba Group by 49.7% during the second quarter. FDx Advisors Inc. now owns 14,203 shares of the specialty retailer’s stock worth $2,407,000 after purchasing an additional 4,715 shares in the last quarter. Telos Capital Management Inc. boosted its position in shares of Alibaba Group by 11.4% during the second quarter. Telos Capital Management Inc. now owns 12,151 shares of the specialty retailer’s stock worth $2,059,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Abner Herrman & Brock LLC bought a new position in shares of Alibaba Group during the second quarter worth $260,000. 40.68% of the stock is owned by institutional investors.
BABA traded up $3.55 on Tuesday, reaching $177.55. The company had a trading volume of 14,874,840 shares, compared to its average volume of 16,411,978. Alibaba Group Holding Ltd has a fifty-two week low of $129.77 and a fifty-two week high of $198.35. The firm has a market cap of $440.15 billion, a PE ratio of 49.46, a P/E/G ratio of 1.26 and a beta of 2.30. The firm’s fifty day simple moving average is $166.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.30.
Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion during 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 business’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.73 EPS. Research analysts forecast that Alibaba Group Holding Ltd will post 5.12 earnings per share for the current fiscal year.
Several equities research analysts have commented on BABA shares. SunTrust Banks boosted their price target on shares of eHealth to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho lowered their price objective on shares of Depomed from $6.00 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Stifel Nicolaus restated a “buy” rating and set a $220.00 price objective on shares of Alibaba Group in a research note on Friday, May 24th. Zacks Investment Research lowered shares of HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $217.70.
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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