Intermede Investment Partners Ltd reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 490,029 shares of the specialty retailer’s stock after selling 13,643 shares during the period. Alibaba Group Holding Limited comprises approximately 6.7% of Intermede Investment Partners Ltd’s investment portfolio, making the stock its largest position. Intermede Investment Partners Ltd’s holdings in Alibaba Group Holding Limited were worth $69,045,000 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. Wilbanks Smith & Thomas Asset Management LLC raised its position in 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. raised its position in 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 raised 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 worth $127,000 after buying an additional 59 shares in the last quarter. Bank of The West raised its position in Alibaba Group Holding Limited by 3.1% in the second quarter. Bank of The West now owns 2,463 shares of the specialty retailer’s stock worth $347,000 after buying an additional 73 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in 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. Hedge funds and other institutional investors own 36.61% of the company’s stock.
Alibaba Group Holding Limited (NYSE BABA) opened at 157.56 on Friday. The company’s 50-day moving average price is $145.23 and its 200 day moving average price is $118.50. Alibaba Group Holding Limited has a 52-week low of $82.59 and a 52-week high of $160.39. The company has a market capitalization of $398.63 billion, a price-to-earnings ratio of 62.77 and a beta of 2.62. Alibaba Group Holding Limited also was the target of some unusual options trading activity on Thursday. Investors purchased 64,571 put options on the stock. This is an increase of approximately 155% compared to the average volume of 25,287 put options.
Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the 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 net margin of 27.51% and a return on equity of 15.40%. During the same period in the previous year, the company posted $0.47 EPS. On average, equities analysts expect that Alibaba Group Holding Limited will post $4.58 EPS for the current fiscal year.
Alibaba Group Holding Limited declared that its board has authorized a share buyback program on Thursday, May 18th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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BABA has been the topic of several recent analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $135.00 price target (up from $116.00) on shares of Alibaba Group Holding Limited in a research note on Friday, May 19th. 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. Oppenheimer Holdings, Inc. restated 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 upped their price target on 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 upped their price target on 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target 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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