Sanders Morris Harris LLC decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 33.7% during the second quarter, Holdings Channel reports. The fund owned 2,750 shares of the specialty retailer’s stock after selling 1,400 shares during the period. Sanders Morris Harris LLC’s holdings in Alibaba Group Holding Limited were worth $388,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BABA. FNY Managed Accounts LLC acquired a new position in Alibaba Group Holding Limited during the first quarter valued at $107,000. Webster Bank N. A. increased its position in Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 235 shares during the last quarter. WFG Advisors LP increased its position in 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 valued at $127,000 after buying an additional 59 shares during the last quarter. West Oak Capital LLC increased its position in Alibaba Group Holding Limited by 81.0% in the second quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock valued at $134,000 after buying an additional 425 shares during the last quarter. Finally, Thompson Davis & CO. Inc. increased its position in Alibaba Group Holding Limited by 10.1% in the first quarter. Thompson Davis & CO. Inc. now owns 1,360 shares of the specialty retailer’s stock valued at $147,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 36.61% of the company’s stock.
Alibaba Group Holding Limited (BABA) opened at 152.26 on Tuesday. The firm’s 50 day moving average is $142.31 and its 200 day moving average is $117.08. The stock has a market capitalization of $385.22 billion, a P/E ratio of 60.49 and a beta of 2.62. Alibaba Group Holding Limited has a 1-year low of $81.94 and a 1-year high of $156.41.
Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. During the same period last year, the company earned $0.47 earnings per share. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post $4.56 earnings per share for the current year.
Alibaba Group Holding Limited announced that its Board of Directors has initiated a stock buyback program on Thursday, May 18th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several research analysts have weighed in on BABA shares. Needham & Company LLC upped their price objective on shares of Alibaba Group Holding Limited from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Vetr downgraded shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $129.84 price objective on the stock. in a report on Monday, May 8th. MKM Partners restated a “buy” rating and set a $130.00 price objective on shares of Alibaba Group Holding Limited in a report on Tuesday, April 18th. Benchmark Co. started coverage on shares of Alibaba Group Holding Limited in a report on Tuesday, April 18th. They set a “buy” rating and a $140.00 price objective on the stock. Finally, Royal Bank Of Canada restated a “buy” rating and set a $120.00 price objective on shares of Alibaba Group Holding Limited in a report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Alibaba Group Holding Limited presently has an average rating of “Buy” and a consensus target price of $140.85.
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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