Welch & Forbes LLC increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 33.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,960 shares of the specialty retailer’s stock after buying an additional 2,975 shares during the period. Welch & Forbes LLC’s holdings in Alibaba Group Holding Limited were worth $1,686,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of 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 valued at $276,000 after buying an additional 23 shares during the period. Ronald Blue & Co. LLC raised its position in Alibaba Group Holding Limited by 0.7% in the second quarter. Ronald Blue & Co. LLC now owns 3,458 shares of the specialty retailer’s stock valued at $487,000 after buying an additional 25 shares during the period. Cornerstone Advisors Inc. raised its position in Alibaba Group Holding Limited by 1.3% in the second quarter. Cornerstone Advisors Inc. now owns 2,259 shares of the specialty retailer’s stock valued at $318,000 after buying an additional 30 shares during the period. 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 valued at $272,000 after buying an additional 47 shares during the period. Finally, 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 valued at $127,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 36.75% of the company’s stock.
Alibaba Group Holding Limited (BABA) opened at 153.33 on Monday. The firm’s 50-day moving average is $146.12 and its 200-day moving average is $119.67. The firm has a market cap of $387.92 billion, a price-to-earnings ratio of 61.09 and a beta of 2.64. Alibaba Group Holding Limited has a 52-week low of $83.17 and a 52-week high of $160.39.
Alibaba Group Holding Limited (NYSE:BABA) last announced 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 firm had revenue of $5.61 billion during 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 quarter in the prior year, the business earned $0.47 EPS. Analysts forecast that Alibaba Group Holding Limited will post $4.56 EPS for the current fiscal year.
Alibaba Group Holding Limited announced that its Board of Directors has approved a share repurchase plan on Thursday, May 18th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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Several research firms have issued reports on BABA. Robert W. Baird restated an “outperform” rating and issued a $135.00 price target (up previously from $116.00) on shares of Alibaba Group Holding Limited in a research report on Friday, May 19th. MKM Partners restated 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. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research report on Monday, May 22nd. Sanford C. Bernstein lifted their price target on shares of Alibaba Group Holding Limited from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 24th. Finally, Pacific Crest restated a “buy” rating and issued a $137.00 price target on shares of Alibaba Group Holding Limited in a research report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $140.99.
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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