Laurel Wealth Advisors Inc. boosted its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 66.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,879 shares of the specialty retailer’s stock after buying an additional 1,153 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Alibaba Group were worth $525,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Alibaba Group during the 4th quarter valued at $1,734,020,000. BlackRock Inc. raised its holdings in Alibaba Group by 7.4% in the 4th quarter. BlackRock Inc. now owns 67,733,482 shares of the specialty retailer’s stock worth $9,284,230,000 after purchasing an additional 4,674,615 shares during the period. Investec Asset Management LTD raised its holdings in Alibaba Group by 87.4% in the 1st quarter. Investec Asset Management LTD now owns 5,335,580 shares of the specialty retailer’s stock worth $973,477,000 after purchasing an additional 2,488,530 shares during the period. Legal & General Group Plc raised its holdings in Alibaba Group by 40.4% in the 4th quarter. Legal & General Group Plc now owns 7,770,872 shares of the specialty retailer’s stock worth $1,065,152,000 after purchasing an additional 2,234,676 shares during the period. Finally, Coatue Management LLC raised its holdings in Alibaba Group by 70.5% in the 4th quarter. Coatue Management LLC now owns 5,348,736 shares of the specialty retailer’s stock worth $733,151,000 after purchasing an additional 2,212,159 shares during the period. 40.68% of the stock is owned by institutional investors.
A number of equities analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $305.00 target price (up from $295.00) on shares of NetEase in a report on Thursday, May 16th. Robert W. Baird raised their target price on Total System Services from $98.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, March 29th. Raymond James set a C$3.50 price target on StorageVault Canada and gave the company a “strong-buy” rating in a report on Thursday, May 16th. Loop Capital initiated coverage on TENCENT HOLDING/ADR in a report on Monday, June 3rd. They set a “buy” rating on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $220.00 price target on shares of Alibaba Group in a report on Friday, May 24th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $217.30.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $7.82. The firm had revenue of $93.50 billion during the quarter, compared to analyst estimates of $91.68 billion. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. Alibaba Group’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.73 earnings per share. Analysts forecast that Alibaba Group Holding Ltd will post 5.1 earnings per share for the current year.
Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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