Brown Advisory Inc. reduced its position in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 50.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,638 shares of the specialty retailer’s stock after selling 18,654 shares during the period. Brown Advisory Inc.’s holdings in Alibaba Group were worth $1,904,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of Alibaba Group by 1.1% in the 4th quarter. Morgan Stanley now owns 12,815,514 shares of the specialty retailer’s stock valued at $1,128,919,000 after purchasing an additional 142,563 shares during the last quarter. Bank of America Corp DE raised its stake in Alibaba Group by 5.9% during the 4th quarter. Bank of America Corp DE now owns 7,964,910 shares of the specialty retailer’s stock valued at $701,629,000 after acquiring an additional 447,099 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Alibaba Group by 53.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,408,615 shares of the specialty retailer’s stock valued at $388,355,000 after acquiring an additional 1,527,808 shares during the last quarter. Fisher Asset Management LLC raised its stake in Alibaba Group by 0.3% during the 1st quarter. Fisher Asset Management LLC now owns 3,849,059 shares of the specialty retailer’s stock valued at $393,297,000 after acquiring an additional 10,789 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in Alibaba Group by 108,264.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,711,488 shares of the specialty retailer’s stock valued at $326,945,000 after acquiring an additional 3,708,063 shares during the last quarter. 13.33% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have commented on the company. Robert W. Baird upped their price objective on Alibaba Group from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup increased their target price on Alibaba Group from $149.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial upped their price target on Alibaba Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com cut Alibaba Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, HSBC increased their target price on Alibaba Group from $131.00 to $142.00 in a report on Sunday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.64.
Alibaba Group Stock Performance
Shares of BABA stock opened at $93.47 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $91.18 and a two-hundred day moving average of $91.51. Alibaba Group Holding Limited has a 52 week low of $58.01 and a 52 week high of $121.30. The company has a market cap of $239.82 billion, a P/E ratio of 20.10, a PEG ratio of 0.68 and a beta of 0.68.
Alibaba Group (NYSE:BABA – Get Free Report) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $17.37 earnings per share for the quarter, beating analysts’ consensus estimates of $14.59 by $2.78. The company had revenue of $234.16 billion for the quarter, compared to analysts’ expectations of $224.75 billion. Alibaba Group had a return on equity of 12.55% and a net margin of 9.45%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, analysts anticipate that Alibaba Group Holding Limited will post 7.06 EPS for the current year.
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.
Featured Stories
- Five stocks we like better than Alibaba Group
- Investing in Construction Stocks
- 3 Sizzling Dividends That Are Going On Sale
- How to Use High Beta Stocks to Maximize Your Investing Profits
- 3 Ways To Trade, Trade Desk Stock Post Earnings
- How to Invest in Communication Stocks
- Inflation, The Fed, and Oil Prices: Interest Rates Are Going Up
Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA – Free Report).
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.
