Atria Investments LLC Purchases 787 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Atria Investments LLC boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 9,751 shares of the specialty retailer’s stock after buying an additional 787 shares during the period. Atria Investments LLC’s holdings in Alibaba Group Holding Limited were worth $1,374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BABA. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Alibaba Group Holding Limited by 0.9% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 2,563 shares of the specialty retailer’s stock worth $276,000 after buying an additional 23 shares in the last quarter. Comerica Securities Inc. increased its position in shares of Alibaba Group Holding Limited by 1.9% in the first quarter. Comerica Securities Inc. now owns 2,527 shares of the specialty retailer’s stock worth $272,000 after buying an additional 47 shares in the last quarter. WFG Advisors LP increased its position in shares of Alibaba Group Holding Limited by 5.3% in the first quarter. WFG Advisors LP now owns 1,180 shares of the specialty retailer’s stock worth $127,000 after buying an additional 59 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Alibaba Group Holding Limited by 0.9% in the first quarter. Raymond James Trust N.A. now owns 11,220 shares of the specialty retailer’s stock worth $1,210,000 after buying an additional 98 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its position in shares of Alibaba Group Holding Limited by 2.0% in the first quarter. Kistler Tiffany Companies LLC now owns 5,151 shares of the specialty retailer’s stock worth $555,000 after buying an additional 100 shares in the last quarter. Institutional investors own 36.24% of the company’s stock.

Shares of Alibaba Group Holding Limited (BABA) opened at 152.11 on Friday. The company has a 50 day moving average of $140.71 and a 200 day moving average of $116.01. Alibaba Group Holding Limited has a 52-week low of $81.94 and a 52-week high of $156.41. The stock has a market capitalization of $384.84 billion, a price-to-earnings ratio of 60.84 and a beta of 2.62.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.26 billion. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. During the same period last year, the business posted $0.47 earnings per share. Analysts predict that Alibaba Group Holding Limited will post $4.56 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 18th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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A number of analysts have weighed in on the stock. Robert W. Baird reissued an “outperform” rating and set a $135.00 price objective (up previously from $116.00) on shares of Alibaba Group Holding Limited in a report on Friday, May 19th. MKM Partners reissued a “buy” rating and set a $130.00 price objective on shares of Alibaba Group Holding Limited in a report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $140.00 price objective (up previously from $130.00) on shares of Alibaba Group Holding Limited in a report on Monday, May 22nd. Sanford C. Bernstein raised their price objective on shares of Alibaba Group Holding Limited from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, May 24th. Finally, Instinet raised their price objective on shares of Alibaba Group Holding Limited from $139.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. Alibaba Group Holding Limited presently has a consensus rating of “Buy” and a consensus price target of $140.69.

Alibaba Group Holding Limited Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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