Wellington Shields & Co. LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 87.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,313 shares of the specialty retailer’s stock after buying an additional 613 shares during the period. Wellington Shields & Co. LLC’s holdings in Alibaba Group were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Rikoon Group LLC purchased a new stake in Alibaba Group during the third quarter valued at $257,000. MAI Capital Management increased its position in Alibaba Group by 11.8% in the third quarter. MAI Capital Management now owns 152,864 shares of the specialty retailer’s stock worth $44,939,000 after buying an additional 16,102 shares in the last quarter. Syntal Capital Partners LLC bought a new position in shares of Alibaba Group in the third quarter worth about $1,507,000. Perennial Investment Advisors LLC boosted its stake in shares of Alibaba Group by 9.0% in the third quarter. Perennial Investment Advisors LLC now owns 4,558 shares of the specialty retailer’s stock worth $1,343,000 after acquiring an additional 375 shares during the period. Finally, Cypress Asset Management Inc. TX boosted its stake in shares of Alibaba Group by 1.1% in the third quarter. Cypress Asset Management Inc. TX now owns 10,383 shares of the specialty retailer’s stock worth $3,052,000 after acquiring an additional 114 shares during the period. 40.38% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on BABA. Nomura reissued a “buy” rating and set a $338.00 price target on shares of Alibaba Group in a research note on Thursday, January 14th. Raymond James increased their price target on Alibaba Group from $330.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 3rd. Citigroup increased their price target on Alibaba Group from $316.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Mizuho raised their price objective on Alibaba Group from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Finally, Zacks Investment Research downgraded Alibaba Group from a “buy” rating to a “hold” rating and set a $280.00 price objective on the stock. in a report on Thursday, November 12th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Alibaba Group presently has a consensus rating of “Buy” and an average target price of $321.55.
Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Monday, February 1st. The specialty retailer reported $22.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $19.25. The company had revenue of $221.08 billion during the quarter, compared to analyst estimates of $214.39 billion. Alibaba Group had a return on equity of 12.74% and a net margin of 22.56%. Alibaba Group’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the business earned $18.19 EPS. Equities analysts expect that Alibaba Group Holding Limited will post 7.84 EPS for the current fiscal year.
Alibaba Group Profile
Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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