Banque Pictet & Cie SA Sells 650 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Banque Pictet & Cie SA lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,300 shares of the specialty retailer’s stock after selling 650 shares during the quarter. Banque Pictet & Cie SA’s holdings in Alibaba Group were worth $2,902,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Truist Financial lowered their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Mizuho reduced their target price on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Citigroup lowered their price target on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a report on Friday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Trading Up 3.0 %

Alibaba Group stock opened at $85.41 on Friday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $96.68. The business’s fifty day moving average is $77.29 and its 200 day moving average is $76.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $216.73 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 0.48 and a beta of 0.32.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period in the previous year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 6.96 EPS for the current year.

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.