Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,838,528 shares of the specialty retailer’s stock after selling 18,583 shares during the period. Alibaba Group Holding Limited comprises about 0.8% of Mitsubishi UFJ Trust & Banking Corp’s holdings, making the stock its 19th largest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Alibaba Group Holding Limited worth $399,949,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Alibaba Group Holding Limited during the first quarter worth approximately $10,162,000. Conning Inc. raised its stake in shares of Alibaba Group Holding Limited by 62.9% in the first quarter. Conning Inc. now owns 3,950 shares of the specialty retailer’s stock worth $426,000 after buying an additional 1,525 shares in the last quarter. Welch & Forbes LLC raised its stake in shares of Alibaba Group Holding Limited by 4.4% in the first quarter. Welch & Forbes LLC now owns 8,985 shares of the specialty retailer’s stock worth $969,000 after buying an additional 380 shares in the last quarter. Capital Advisors Inc. OK bought a new stake in shares of Alibaba Group Holding Limited during the first quarter worth approximately $564,000. Finally, Wesbanco Bank Inc. bought a new stake in shares of Alibaba Group Holding Limited during the first quarter worth approximately $8,849,000. 36.81% of the stock is owned by institutional investors and hedge funds.
Alibaba Group Holding Limited (NYSE BABA) traded down 1.86% during mid-day trading on Friday, hitting $171.74. 24,184,674 shares of the stock were exchanged. The company’s 50-day moving average price is $156.44 and its 200 day moving average price is $127.15. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $177.00. The firm has a market capitalization of $436.73 billion, a price-to-earnings ratio of 58.22 and a beta of 2.64.
Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.21. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same period last year, the business earned $0.74 earnings per share. Equities research analysts expect that Alibaba Group Holding Limited will post $4.97 EPS for the current year.
Alibaba Group Holding Limited declared that its Board of Directors has authorized a share 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 typically a sign that the company’s board believes its stock is undervalued.
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BABA has been the subject of a number of recent research reports. Vetr lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $131.78 price objective for the company. in a report on Tuesday, May 2nd. Needham & Company LLC boosted their price objective on Alibaba Group Holding Limited from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Barclays PLC boosted their price objective on Alibaba Group Holding Limited from $130.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, May 10th. Royal Bank Of Canada restated a “buy” rating and issued a $120.00 target price on shares of Alibaba Group Holding Limited in a research note on Tuesday, May 16th. Finally, MKM Partners restated a “buy” rating and issued a $155.00 target price (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $167.32.
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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