Northeast Financial Consultants Inc Buys Shares of 1,800 Alibaba Group Holding Limited (BABA)

Northeast Financial Consultants Inc acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,800 shares of the specialty retailer’s stock, valued at approximately $254,000.

A number of other institutional investors have also modified their holdings of BABA. FNY Managed Accounts LLC purchased a new stake in Alibaba Group Holding Limited during the first quarter valued at approximately $107,000. Webster Bank N. A. boosted its stake in Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 235 shares during the period. WFG Advisors LP boosted its stake in Alibaba Group Holding Limited by 5.3% in the first quarter. WFG Advisors LP now owns 1,180 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 59 shares during the period. Carroll Financial Associates Inc. boosted its stake in Alibaba Group Holding Limited by 9.4% in the second quarter. Carroll Financial Associates Inc. now owns 930 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 80 shares during the period. Finally, West Oak Capital LLC boosted its stake in Alibaba Group Holding Limited by 81.0% in the second quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock valued at $134,000 after buying an additional 425 shares during the period. Hedge funds and other institutional investors own 36.81% of the company’s stock.

Shares of Alibaba Group Holding Limited (NYSE BABA) opened at 167.50 on Friday. The firm has a market cap of $423.78 billion, a P/E 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. The company’s 50-day moving average price is $152.41 and its 200-day moving average price is $124.57. Alibaba Group Holding Limited also was the target of unusually large options trading activity on Wednesday. Investors acquired 85,508 put options on the company. This represents an increase of approximately 228% compared to the typical daily volume of 26,062 put options.

Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.21. The business had revenue of $7.40 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.74 earnings per share. On average, analysts predict that Alibaba Group Holding Limited will post $4.74 EPS for the current year.

Alibaba Group Holding Limited announced that its board has approved a share buyback plan on Thursday, May 18th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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Several equities research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on Alibaba Group Holding Limited from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Investment Research raised Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 price objective for the company in a research note on Thursday, June 15th. Macquarie lifted their price objective on Alibaba Group Holding Limited from $171.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays PLC lifted their price objective on Alibaba Group Holding Limited from $130.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 10th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $161.00 price objective (up from $144.00) on shares of Alibaba Group Holding Limited in a research note on Sunday, June 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average 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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