Surevest LLC increased its holdings in Alibaba Group Holding Ltd (NYSE:BABA) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,601 shares of the specialty retailer’s stock after purchasing an additional 453 shares during the period. Alibaba Group makes up 1.9% of Surevest LLC’s portfolio, making the stock its 8th biggest position. Surevest LLC’s holdings in Alibaba Group were worth $4,880,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in BABA. Public Employees Retirement Association of Colorado raised its position in Alibaba Group by 5.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 350,900 shares of the specialty retailer’s stock valued at $68,243,000 after purchasing an additional 18,000 shares during the last quarter. Pinnacle Bank increased its position in Alibaba Group by 144.8% in the third quarter. Pinnacle Bank now owns 164 shares of the specialty retailer’s stock worth $48,000 after purchasing an additional 97 shares during the period. Crewe Advisors LLC bought a new stake in Alibaba Group during the 2nd quarter worth about $212,000. WFA of San Diego LLC acquired a new position in Alibaba Group during the 2nd quarter valued at about $261,000. Finally, Captrust Financial Advisors boosted its stake in shares of Alibaba Group by 10.8% in the 2nd quarter. Captrust Financial Advisors now owns 34,966 shares of the specialty retailer’s stock valued at $7,551,000 after purchasing an additional 3,414 shares during the last quarter. Hedge funds and other institutional investors own 46.02% of the company’s stock.
Several brokerages recently weighed in on BABA. Raymond James increased their price objective on shares of Alibaba Group from $290.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, August 21st. Argus raised their price target on Alibaba Group from $260.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Needham & Company LLC lifted their price objective on Alibaba Group from $275.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Robert W. Baird increased their target price on Alibaba Group from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Finally, 140166 boosted their target price on Alibaba Group from $275.00 to $350.00 in a research report on Monday, August 24th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $295.09.
Shares of BABA traded up $7.85 during midday trading on Friday, hitting $307.31. The stock had a trading volume of 12,346,464 shares, compared to its average volume of 16,826,123. The firm has a market cap of $831.47 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50. The company has a 50 day simple moving average of $283.76 and a two-hundred day simple moving average of $239.24. Alibaba Group Holding Ltd has a twelve month low of $168.12 and a twelve month high of $310.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.98 and a quick ratio of 1.98.
Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $13.28. The business had revenue of $153.75 billion during the quarter, compared to the consensus estimate of $147.30 billion. Alibaba Group had a return on equity of 14.13% and a net margin of 31.96%. Alibaba Group’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the company earned $12.55 earnings per share. Analysts forecast that Alibaba Group Holding Ltd will post 7.57 EPS for the current fiscal year.
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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