Philip James Wealth Mangement LLC Invests $11.77 Million in Alibaba Group Holding Limited (NYSE:BABA)

Philip James Wealth Mangement LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 110,916 shares of the specialty retailer’s stock, valued at approximately $11,770,000. Alibaba Group comprises about 1.4% of Philip James Wealth Mangement LLC’s portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Primecap Management Co. CA lifted its holdings in shares of Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after acquiring an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares during the last quarter. Discerene Group LP boosted its position in shares of Alibaba Group by 21.2% during the first quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after buying an additional 529,237 shares during the period. AMF Tjanstepension AB grew its stake in shares of Alibaba Group by 6.9% during the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after buying an additional 178,999 shares during the last quarter. Finally, Eminence Capital LP raised its holdings in shares of Alibaba Group by 9.0% in the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock worth $131,788,000 after buying an additional 150,488 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 4.5 %

Alibaba Group stock traded down $4.46 during trading hours on Friday, reaching $95.68. The stock had a trading volume of 4,087,012 shares, compared to its average volume of 17,569,246. The company has a market cap of $229.15 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 0.46 and a beta of 0.35. The business’s 50 day moving average price is $96.65 and its 200-day moving average price is $84.70. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 EPS. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BABA shares. Bank of America upped their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Barclays boosted their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Robert W. Baird raised their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.