Cortland Associates Inc. MO Has $45.47 Million Position in Alibaba Group Holding Limited (BABA)

Cortland Associates Inc. MO lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 322,728 shares of the specialty retailer’s stock after selling 5,928 shares during the period. Alibaba Group Holding Limited makes up 8.7% of Cortland Associates Inc. MO’s investment portfolio, making the stock its 3rd largest position. Cortland Associates Inc. MO’s holdings in Alibaba Group Holding Limited were worth $45,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Reliance Trust Co. of Delaware increased its position in Alibaba Group Holding Limited by 31.5% in the first quarter. Reliance Trust Co. of Delaware now owns 10,216 shares of the specialty retailer’s stock worth $1,101,000 after buying an additional 2,448 shares in the last quarter. Hartwell J M Limited Partnership increased its position in Alibaba Group Holding Limited by 6.1% in the first quarter. Hartwell J M Limited Partnership now owns 49,750 shares of the specialty retailer’s stock worth $5,365,000 after buying an additional 2,850 shares in the last quarter. CWM LLC increased its position in Alibaba Group Holding Limited by 2.7% in the first quarter. CWM LLC now owns 11,665 shares of the specialty retailer’s stock worth $1,258,000 after buying an additional 304 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Alibaba Group Holding Limited by 6.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 893,522 shares of the specialty retailer’s stock worth $96,348,000 after buying an additional 51,629 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Alibaba Group Holding Limited by 4.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,222 shares of the specialty retailer’s stock worth $5,092,000 after buying an additional 1,912 shares in the last quarter. Institutional investors and hedge funds own 36.81% of the company’s stock.

Alibaba Group Holding Limited (BABA) opened at 167.50 on Friday. The stock’s 50 day moving average price is $152.41 and its 200 day moving average price is $124.57. The company has a market capitalization of $423.78 billion, a price-to-earnings ratio of 66.28 and a beta of 2.64. Alibaba Group Holding Limited has a 12-month low of $86.01 and a 12-month high of $169.50. Alibaba Group Holding Limited also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 85,508 put options on the stock. This is an increase of 228% compared to the typical daily volume of 26,062 put options.

Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.21. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 17.42%. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post $4.74 earnings per share for the current fiscal year.

Alibaba Group Holding Limited declared that its board has authorized a share repurchase plan on Thursday, May 18th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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A number of analysts have weighed in on BABA shares. CIBC raised their price objective on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, May 23rd. J P Morgan Chase & Co began coverage on Alibaba Group Holding Limited in a research note on Tuesday, June 27th. They issued an “overweight” rating and a $190.00 price objective for the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of Alibaba Group Holding Limited in a research note on Monday, May 22nd. Vetr raised Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $173.25 price objective for the company in a research note on Tuesday. Finally, SunTrust Banks, Inc. assumed coverage on Alibaba Group Holding Limited in a research report on Tuesday. They set a “buy” rating and a $175.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Alibaba Group Holding Limited presently has an average rating of “Buy” and a consensus target price of $157.29.

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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