Brookfield Corp ON Purchases 7,685 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Posted by Defense World Staff on Sep 12th, 2023

Brookfield Corp ON increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,936,175 shares of the specialty retailer’s stock after purchasing an additional 7,685 shares during the quarter. Alibaba Group accounts for approximately 1.1% of Brookfield Corp ON’s investment portfolio, making the stock its 11th largest position. Brookfield Corp ON owned 0.11% of Alibaba Group worth $300,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Belpointe Asset Management LLC lifted its holdings in shares of Alibaba Group by 1.8% in the first quarter. Belpointe Asset Management LLC now owns 22,063 shares of the specialty retailer’s stock worth $2,254,000 after acquiring an additional 395 shares during the last quarter. Vontobel Asset Management Inc. lifted its holdings in shares of Alibaba Group by 478.6% in the first quarter. Vontobel Asset Management Inc. now owns 1,318,987 shares of the specialty retailer’s stock worth $134,104,000 after acquiring an additional 1,091,041 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new position in shares of Alibaba Group in the first quarter worth about $72,037,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Alibaba Group by 48.8% in the first quarter. Moneta Group Investment Advisors LLC now owns 3,756 shares of the specialty retailer’s stock worth $384,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in shares of Alibaba Group by 20.4% in the first quarter. Johnson Investment Counsel Inc. now owns 6,570 shares of the specialty retailer’s stock worth $671,000 after acquiring an additional 1,111 shares during the last quarter. Institutional investors own 14.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BABA. Bank of America increased their target price on shares of Alibaba Group from $137.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Susquehanna reiterated a “positive” rating and issued a $160.00 price objective on shares of Alibaba Group in a report on Thursday, August 31st. Loop Capital raised their price objective on shares of Alibaba Group from $130.00 to $135.00 in a report on Tuesday, June 20th. UBS Group raised their price objective on shares of Alibaba Group from $110.00 to $120.00 in a report on Friday, August 11th. Finally, Truist Financial raised their price objective on shares of Alibaba Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 11th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $138.64.

Read Our Latest Report on Alibaba Group

Alibaba Group Stock Performance

NYSE:BABA opened at $88.74 on Tuesday. The company has a market capitalization of $227.68 billion, a PE ratio of 19.08 and a beta of 0.70. Alibaba Group Holding Limited has a fifty-two week low of $58.01 and a fifty-two week high of $121.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.92 and a current ratio of 1.92. The company has a 50 day simple moving average of $92.94 and a two-hundred day simple moving average of $89.61.

Alibaba Group (NYSE:BABA – Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $17.37 EPS for the quarter, topping the consensus estimate of $14.59 by $2.78. The company had revenue of $234.16 billion during the quarter, compared to the consensus estimate of $224.75 billion. Alibaba Group had a net margin of 9.45% and a return on equity of 12.55%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. Research analysts anticipate that Alibaba Group Holding Limited will post 8.2 earnings per share for the current year.

Alibaba Group Company Profile

(Free Report)

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.