Alibaba Group Holding Limited (BABA) Position Cut by Reliance Trust Co. of Delaware

Reliance Trust Co. of Delaware lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,940 shares of the specialty retailer’s stock after selling 276 shares during the period. Reliance Trust Co. of Delaware’s holdings in Alibaba Group Holding Limited were worth $1,401,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FNY Managed Accounts LLC purchased a new position in shares of Alibaba Group Holding Limited during the first quarter valued at $107,000. Webster Bank N. A. boosted its position in shares of 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 last quarter. WFG Advisors LP boosted its position in shares of 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 last quarter. Carroll Financial Associates Inc. boosted its position in shares of 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 last quarter. Finally, West Oak Capital LLC boosted its position in shares of 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 last quarter. 36.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alibaba Group Holding Limited (NYSE BABA) opened at 167.50 on Friday. The firm has a market capitalization of $423.78 billion, a P/E ratio of 66.28 and a beta of 2.64. The stock has a 50 day moving average price of $152.41 and a 200 day moving average price of $124.57. 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 some unusual options trading on Wednesday. Stock traders purchased 85,508 put options on the company. This represents an increase of approximately 228% compared to the average daily volume of 26,062 put options.

Alibaba Group Holding Limited (NYSE:BABA) last released its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a return on equity of 17.42% and a net margin of 28.77%. The business had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities 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 initiated a share buyback plan on Thursday, May 18th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback 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. Needham & Company LLC boosted their price target on shares of Alibaba Group Holding Limited from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, May 19th. MKM Partners reissued a “buy” rating and set a $155.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued a “buy” rating and set a $120.00 price target on shares of Alibaba Group Holding Limited in a research report on Tuesday, May 16th. Vetr cut shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $129.84 price target on the stock. in a research report on Monday, May 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $139.00 price target (up previously from $120.00) on shares of Alibaba Group Holding Limited in a research report on Friday, May 19th. One 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. The stock has an average rating of “Buy” and an average target price of $157.29.

About Alibaba Group Holding Limited

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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