Fluent Financial LLC Buys New Shares in Alibaba Group Holding Limited (NYSE:BABA)

Fluent Financial LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,169 shares of the specialty retailer’s stock, valued at approximately $804,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its position in Alibaba Group by 5.1% in the 4th quarter. Primecap Management Co. CA now owns 18,224,982 shares of the specialty retailer’s stock worth $1,412,618,000 after buying an additional 881,710 shares during the last quarter. Sanders Capital LLC grew its position in Alibaba Group by 5.4% during the fourth quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer’s stock valued at $1,228,398,000 after acquiring an additional 819,019 shares during the last quarter. FIL Ltd raised its stake in shares of Alibaba Group by 10.2% during the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock worth $823,986,000 after acquiring an additional 983,842 shares in the last quarter. H&H International Investment LLC lifted its holdings in shares of Alibaba Group by 63.1% in the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after acquiring an additional 1,918,730 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Alibaba Group in the 4th quarter valued at $329,367,000. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BABA. Robert W. Baird lifted their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Sanford C. Bernstein lifted their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Barclays dropped their price objective on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Down 0.7 %

Shares of BABA traded down $0.60 on Friday, reaching $81.83. The stock had a trading volume of 2,921,200 shares, compared to its average volume of 16,481,861. The company has a 50-day simple moving average of $78.70 and a 200-day simple moving average of $76.85. The firm has a market capitalization of $207.64 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 0.42 and a beta of 0.32. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $91.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter in the previous year, the firm earned $2.47 EPS. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

About Alibaba Group

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.