Family Legacy Inc. Buys New Stake in Alibaba Group Holding Limited (BABA)

Family Legacy Inc. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to its most recent filing with the SEC. The fund purchased 4,041 shares of the specialty retailer’s stock, valued at approximately $569,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reliance Trust Co. of Delaware raised its stake in Alibaba Group Holding Limited by 31.5% in the first quarter. Reliance Trust Co. of Delaware now owns 10,216 shares of the specialty retailer’s stock worth $1,101,000 after buying an additional 2,448 shares during the last quarter. Hartwell J M Limited Partnership raised its stake in Alibaba Group Holding Limited by 6.1% in the first quarter. Hartwell J M Limited Partnership now owns 49,750 shares of the specialty retailer’s stock worth $5,365,000 after buying an additional 2,850 shares during the last quarter. CWM LLC increased its position in Alibaba Group Holding Limited by 2.7% in the first quarter. CWM LLC now owns 11,665 shares of the specialty retailer’s stock valued at $1,258,000 after buying an additional 304 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Alibaba Group Holding Limited by 6.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 893,522 shares of the specialty retailer’s stock valued at $96,348,000 after buying an additional 51,629 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Alibaba Group Holding Limited by 4.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,222 shares of the specialty retailer’s stock valued at $5,092,000 after buying an additional 1,912 shares during the last quarter. Hedge funds and other institutional investors own 36.81% of the company’s stock.

Shares of Alibaba Group Holding Limited (BABA) traded up 1.11% during trading on Wednesday, reaching $159.50. The company had a trading volume of 21,318,321 shares. The firm has a market capitalization of $403.53 billion, a PE ratio of 63.12 and a beta of 2.64. The stock has a 50 day moving average price of $151.08 and a 200 day moving average price of $123.81. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $160.39.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $5.26 billion. During the same period last year, the company posted $0.47 earnings per share. On average, equities research analysts forecast that Alibaba Group Holding Limited will post $4.64 EPS for the current year.

Alibaba Group Holding Limited declared that its board has approved 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 reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: “[[title]]” was published by [[site]] and is the property of of [[site]]. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at [[permalink]].

Several equities research analysts recently issued reports on BABA shares. BidaskClub cut shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) set a $179.00 price target on shares of Alibaba Group Holding Limited and gave the company a “buy” rating in a research report on Friday, June 9th. Vetr upgraded shares of Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $173.25 price target for the company in a research report on Tuesday. Benchmark Co. began coverage on shares of Alibaba Group Holding Limited in a research note on Tuesday, April 18th. They issued a “buy” rating and a $140.00 price objective for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price objective on shares of Alibaba Group Holding Limited in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, two 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $149.52.

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.