Procyon Advisors LLC Increases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Procyon Advisors LLC increased its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,160 shares of the specialty retailer’s stock after acquiring an additional 633 shares during the quarter. Procyon Advisors LLC’s holdings in Alibaba Group were worth $1,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group in the 2nd quarter valued at $27,000. Concord Wealth Partners grew its stake in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in Alibaba Group in the fourth quarter valued at about $31,000. Highline Wealth Partners LLC bought a new position in Alibaba Group in the third quarter worth about $36,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alibaba Group during the second quarter valued at about $38,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Up 3.3 %

NYSE:BABA opened at $85.16 on Friday. The firm has a market capitalization of $202.93 billion, a P/E ratio of 17.27, a PEG ratio of 0.40 and a beta of 0.30. The company’s fifty day moving average price is $86.24 and its 200-day moving average price is $87.59. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

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

Analysts Set New Price Targets

Several research analysts recently commented on BABA shares. Barclays reduced their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, October 7th. Mizuho boosted their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup boosted their price target on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.13.

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.