Capital One National Association boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 72.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,763 shares of the specialty retailer’s stock after buying an additional 1,576 shares during the period. Capital One National Association’s holdings in Alibaba Group Holding Limited were worth $530,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in BABA. BlackRock Inc. boosted its stake in Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock valued at $6,145,123,000 after buying an additional 54,829,289 shares during the period. Schroder Investment Management Group boosted its stake in Alibaba Group Holding Limited by 3.3% in the first quarter. Schroder Investment Management Group now owns 24,415,309 shares of the specialty retailer’s stock valued at $2,657,606,000 after buying an additional 776,232 shares during the period. OppenheimerFunds Inc. boosted its stake in Alibaba Group Holding Limited by 10.4% in the first quarter. OppenheimerFunds Inc. now owns 21,635,868 shares of the specialty retailer’s stock valued at $2,332,996,000 after buying an additional 2,030,747 shares during the period. State Street Corp boosted its stake in shares of Alibaba Group Holding Limited by 1.8% in the first quarter. State Street Corp now owns 18,826,837 shares of the specialty retailer’s stock worth $2,030,102,000 after buying an additional 329,969 shares during the period. Finally, FMR LLC boosted its stake in shares of Alibaba Group Holding Limited by 3.8% in the first quarter. FMR LLC now owns 17,733,916 shares of the specialty retailer’s stock worth $1,912,249,000 after buying an additional 642,778 shares during the period. 36.75% of the stock is owned by institutional investors.
Shares of Alibaba Group Holding Limited (BABA) opened at 158.84 on Tuesday. The stock has a 50 day moving average price of $146.12 and a 200 day moving average price of $119.67. The firm has a market capitalization of $401.87 billion, a P/E ratio of 63.28 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 data on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.01. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the business earned $0.47 EPS. Analysts forecast that Alibaba Group Holding Limited will post $4.55 EPS for the current year.
Alibaba Group Holding Limited announced that its board has approved a stock repurchase plan on Thursday, May 18th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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A number of equities research analysts recently commented on BABA shares. BidaskClub cut Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) set a $179.00 target price on Alibaba Group Holding Limited and gave the company a “buy” rating in a research note on Friday, June 9th. Benchmark Co. started coverage on Alibaba Group Holding Limited in a research note on Tuesday, April 18th. They issued a “buy” rating and a $140.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 target price on shares of Alibaba Group Holding Limited in a research note on Tuesday, May 23rd. Finally, CIBC boosted their price target on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $140.99.
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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