Janney Montgomery Scott LLC increased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 18.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,974 shares of the specialty retailer’s stock after buying an additional 5,180 shares during the period. Janney Montgomery Scott LLC’s holdings in Alibaba Group Holding Limited were worth $4,646,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in BABA. Private Trust Co. NA bought a new stake in Alibaba Group Holding Limited during the first quarter valued at approximately $253,000. Horan Capital Management bought a new stake in Alibaba Group Holding Limited during the first quarter valued at approximately $738,000. Verde Servicos Internacionais S.A. bought a new stake in Alibaba Group Holding Limited during the first quarter valued at approximately $5,211,000. Daiwa SB Investments Ltd. increased its stake in Alibaba Group Holding Limited by 0.8% in the first quarter. Daiwa SB Investments Ltd. now owns 96,850 shares of the specialty retailer’s stock valued at $10,443,000 after buying an additional 800 shares during the period. Finally, Bank of Montreal Can increased its stake in Alibaba Group Holding Limited by 45.1% in the first quarter. Bank of Montreal Can now owns 561,404 shares of the specialty retailer’s stock valued at $60,536,000 after buying an additional 174,597 shares during the period. 36.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alibaba Group Holding Limited (BABA) traded down 0.05% during trading on Friday, reaching $151.70. The company had a trading volume of 22,327,427 shares. The stock’s 50-day moving average price is $149.81 and its 200-day moving average price is $122.49. The company has a market capitalization of $383.80 billion, a PE ratio of 60.03 and a beta of 2.64. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $160.39.
Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the firm posted $0.47 earnings per share. On average, equities analysts expect that Alibaba Group Holding Limited will post $4.64 EPS for the current fiscal year.
Alibaba Group Holding Limited announced that its board has approved a stock buyback program on Thursday, May 18th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
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A number of research analysts have recently issued reports on BABA shares. BidaskClub raised Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a report on Thursday. Barclays PLC upped their price target on Alibaba Group Holding Limited to $180.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. HSBC Holdings plc reaffirmed a “buy” rating and set a $168.00 price target (up from $162.00) on shares of Alibaba Group Holding Limited in a report on Saturday, July 22nd. Instinet reaffirmed a “buy” rating on shares of Alibaba Group Holding Limited in a report on Saturday, July 22nd. Finally, Atlantic Securities reaffirmed a “hold” rating on shares of Alibaba Group Holding Limited in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus 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.
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