Pioneer Investment Management Inc. Cuts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Pioneer Investment Management Inc. lowered its position in Alibaba Group Holding Limited (NYSE:BABA) by 24.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,254 shares of the specialty retailer’s stock after selling 27,848 shares during the period. Pioneer Investment Management Inc.’s holdings in Alibaba Group Holding Limited were worth $12,153,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of 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 during the last quarter. Ronald Blue & Co. LLC boosted its stake in shares of 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 worth $487,000 after buying an additional 25 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of 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 worth $318,000 after buying an additional 30 shares during the last quarter. Comerica Securities Inc. boosted its stake in shares of 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 during the last quarter. Finally, WFG Advisors LP boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 36.75% of the company’s stock.

Shares of Alibaba Group Holding Limited (NYSE:BABA) opened at 151.70 on Friday. The firm has a market capitalization of $383.80 billion, a price-to-earnings ratio of 60.03 and a beta of 2.64. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $160.39. The firm has a 50-day moving average price of $149.81 and a 200 day moving average price of $122.49.

Alibaba Group Holding Limited (NYSE:BABA) last posted its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business earned $0.47 EPS. On average, analysts anticipate that Alibaba Group Holding Limited will post $4.64 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has initiated a stock buyback 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 analysts have recently issued reports on the company. Robert W. Baird reiterated an “outperform” rating and set a $135.00 target price (up previously from $116.00) on shares of Alibaba Group Holding Limited in a report on Friday, May 19th. MKM Partners reiterated a “buy” rating and set a $130.00 target price on shares of Alibaba Group Holding Limited in a report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $140.00 target price (up previously from $130.00) on shares of Alibaba Group Holding Limited in a report on Monday, May 22nd. Sanford C. Bernstein boosted their target price 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 boosted their target price 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. Alibaba Group Holding Limited presently has an average rating of “Buy” and a consensus price target of $142.21.

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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Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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