InterOcean Capital LLC lessened its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 64.3% in the first quarter, Holdings Channel.com reports. The fund owned 1,192 shares of the specialty retailer’s stock after selling 2,150 shares during the quarter. InterOcean Capital LLC’s holdings in Alibaba Group were worth $232,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in BABA. Norges Bank acquired a new stake in shares of Alibaba Group during the fourth quarter worth $5,093,652,000. GQG Partners LLC raised its holdings in Alibaba Group by 2,641.0% during the 4th quarter. GQG Partners LLC now owns 7,640,310 shares of the specialty retailer’s stock worth $1,620,851,000 after buying an additional 7,361,567 shares during the period. State Street Corp raised its holdings in Alibaba Group by 18.7% during the 4th quarter. State Street Corp now owns 35,607,263 shares of the specialty retailer’s stock worth $12,969,965,000 after buying an additional 5,605,966 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Alibaba Group by 12.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 26,753,779 shares of the specialty retailer’s stock valued at $5,674,477,000 after buying an additional 2,941,744 shares in the last quarter. Finally, Sanders Capital LLC acquired a new position in shares of Alibaba Group in the fourth quarter worth about $513,683,000. Institutional investors own 47.92% of the company’s stock.
Shares of BABA stock traded down $12.46 on Friday, hitting $199.70. The company’s stock had a trading volume of 51,903,680 shares, compared to its average volume of 21,330,340. The stock has a market capitalization of $539.82 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.40 and a beta of 1.60. Alibaba Group Holding Ltd has a fifty-two week low of $147.95 and a fifty-two week high of $231.14. The firm’s fifty day moving average price is $201.56 and its 200-day moving average price is $203.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.75 and a quick ratio of 1.75.
Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, May 22nd. The specialty retailer reported $9.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $8.61. The company had revenue of $114.31 billion for the quarter, compared to analyst estimates of $108.31 billion. Alibaba Group had a return on equity of 15.82% and a net margin of 34.90%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period last year, the company earned $8.57 earnings per share. Analysts predict that Alibaba Group Holding Ltd will post 5.88 EPS for the current fiscal year.
Several brokerages recently commented on BABA. Royal Bank of Canada restated a “buy” rating on shares of Alibaba Group in a research report on Thursday. KeyCorp increased their target price on Alibaba Group from $248.00 to $255.00 in a report on Sunday, April 19th. Benchmark reiterated a “buy” rating and set a $275.00 price target (up previously from $220.00) on shares of Alibaba Group in a report on Friday, February 14th. They noted that the move was a valuation call. Oppenheimer increased their price objective on Alibaba Group from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Finally, Argus reaffirmed a “buy” rating and set a $260.00 target price on shares of Alibaba Group in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $244.32.
About Alibaba Group
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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