NFJ Investment Group LLC Purchases 9,453 Shares of Alibaba Group Holding Limited (NYSE:BABA)

NFJ Investment Group LLC grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 90.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,900 shares of the specialty retailer’s stock after buying an additional 9,453 shares during the quarter. NFJ Investment Group LLC’s holdings in Alibaba Group were worth $2,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Concord Wealth Partners lifted its position in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group during the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in Alibaba Group in the 3rd quarter valued at about $36,000. First Command Advisory Services Inc. bought a new position in Alibaba Group in the 2nd quarter worth about $25,000. Finally, GPS Wealth Strategies Group LLC increased its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Shares of BABA stock opened at $85.68 on Wednesday. The firm has a market capitalization of $205.01 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.42 and a beta of 0.30. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50-day simple moving average is $98.14 and its 200-day simple moving average is $86.09.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 EPS. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BABA. Mizuho boosted their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research report on Monday, October 7th. Loop Capital restated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Robert W. Baird increased their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays reduced their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group 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.