Lyell Wealth Management LP Purchases 440 Shares of Alibaba Group Holding Limited (BABA)

Lyell Wealth Management LP boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,517 shares of the specialty retailer’s stock after buying an additional 440 shares during the period. Alibaba Group Holding Limited comprises 2.2% of Lyell Wealth Management LP’s portfolio, making the stock its 8th largest position. Lyell Wealth Management LP’s holdings in Alibaba Group Holding Limited were worth $4,441,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Atalanta Sosnoff Capital LLC raised its stake in shares of Alibaba Group Holding Limited by 22.9% in the first quarter. Atalanta Sosnoff Capital LLC now owns 452,439 shares of the specialty retailer’s stock valued at $48,786,000 after buying an additional 84,437 shares during the last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Alibaba Group Holding Limited during the first quarter valued at approximately $531,000. Rathbone Brothers plc raised its stake in shares of Alibaba Group Holding Limited by 6.2% in the first quarter. Rathbone Brothers plc now owns 32,038 shares of the specialty retailer’s stock valued at $3,455,000 after buying an additional 1,867 shares during the last quarter. Genesis Asset Managers LLP raised its stake in shares of Alibaba Group Holding Limited by 31.8% in the first quarter. Genesis Asset Managers LLP now owns 4,304,883 shares of the specialty retailer’s stock valued at $464,196,000 after buying an additional 1,037,631 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of Alibaba Group Holding Limited by 0.9% in the first quarter. Raymond James Trust N.A. now owns 11,220 shares of the specialty retailer’s stock valued at $1,210,000 after buying an additional 98 shares during the last quarter. 36.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down 0.05% during midday trading on Friday, hitting $151.70. The company had a trading volume of 22,327,427 shares. The company has a market cap of $383.80 billion, a price-to-earnings ratio of 60.03 and a beta of 2.64. The stock’s 50-day moving average price is $149.81 and its 200-day moving average price is $122.49. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $160.39.

Alibaba Group Holding Limited (NYSE:BABA) last released its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the business earned $0.47 EPS. On average, equities research analysts forecast that Alibaba Group Holding Limited will post $4.64 EPS for the current year.

Alibaba Group Holding Limited announced that its board has initiated a stock buyback plan on Thursday, May 18th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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BABA has been the topic of several recent research reports. Robert W. Baird reissued an “outperform” rating and set a $135.00 price target (up previously from $116.00) on shares of Alibaba Group Holding Limited in a research report on Friday, May 19th. MKM Partners reissued a “buy” rating and set a $130.00 price target on shares of Alibaba Group Holding Limited in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research report on Monday, May 22nd. Sanford C. Bernstein boosted their price objective on shares of Alibaba Group Holding Limited from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, May 24th. Finally, Instinet boosted their price objective on shares of Alibaba Group Holding Limited from $139.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the stock. Alibaba Group Holding Limited currently has an average rating of “Buy” and an average target price of $142.79.

Alibaba Group Holding Limited Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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