Rehmann Capital Advisory Group purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,796 shares of the specialty retailer’s stock, valued at approximately $253,000.
Several other hedge funds have also recently made changes to their positions in BABA. Quadrature Capital Ltd purchased a new stake in shares of Alibaba Group Holding Limited during the fourth quarter worth $31,651,000. UBS Asset Management Americas Inc. increased its stake in shares of Alibaba Group Holding Limited by 7.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 10,167,080 shares of the specialty retailer’s stock worth $892,772,000 after buying an additional 676,000 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Alibaba Group Holding Limited by 10.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,545 shares of the specialty retailer’s stock worth $473,000 after buying an additional 414 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Alibaba Group Holding Limited by 10.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,635,764 shares of the specialty retailer’s stock worth $143,627,000 after buying an additional 151,640 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its stake in shares of Alibaba Group Holding Limited by 22.9% in the first quarter. Atalanta Sosnoff Capital LLC now owns 452,439 shares of the specialty retailer’s stock worth $48,786,000 after buying an additional 84,437 shares in the last quarter. Institutional investors and hedge funds own 36.24% of the company’s stock.
Alibaba Group Holding Limited (BABA) opened at 151.89 on Friday. The firm’s 50-day moving average is $140.71 and its 200-day moving average is $116.01. Alibaba Group Holding Limited has a 52-week low of $81.94 and a 52-week high of $156.41. The company has a market capitalization of $384.28 billion, a PE ratio of 60.35 and a beta of 2.62.
Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the business earned $0.47 EPS. On average, equities research analysts forecast that Alibaba Group Holding Limited will post $4.56 EPS for the current year.
Alibaba Group Holding Limited declared that its Board of Directors has approved a stock repurchase program on Thursday, May 18th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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A number of analysts recently weighed in on BABA shares. Zacks Investment Research downgraded shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Barclays PLC started coverage on shares of Alibaba Group Holding Limited in a research report on Tuesday, March 28th. They issued an “overweight” rating and a $130.00 price target on the stock. Sanford C. Bernstein reiterated an “outperform” rating and issued a $130.00 price target (up from $117.00) on shares of Alibaba Group Holding Limited in a research report on Sunday, April 2nd. Benchmark Co. started coverage on shares of Alibaba Group Holding Limited in a research report on Tuesday, April 18th. They issued a “buy” rating and a $140.00 price target on the stock. Finally, MKM Partners reiterated a “buy” rating and issued a $130.00 price target on shares of Alibaba Group Holding Limited in a research report on Tuesday, April 18th. One equities 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 assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $140.85.
About Alibaba Group Holding Limited
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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