Truvestments Capital LLC acquired a new stake in Alibaba Group Holding Ltd (NYSE:BABA) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 187 shares of the specialty retailer’s stock, valued at approximately $34,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Alibaba Group in the fourth quarter worth about $1,734,020,000. BlackRock Inc. grew its stake in shares of Alibaba Group by 7.4% during the fourth quarter. BlackRock Inc. now owns 67,733,482 shares of the specialty retailer’s stock worth $9,284,230,000 after acquiring an additional 4,674,615 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of Alibaba Group by 449.8% during the third quarter. Federated Investors Inc. PA now owns 3,691,425 shares of the specialty retailer’s stock worth $608,200,000 after acquiring an additional 3,020,054 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Alibaba Group during the third quarter worth about $490,205,000. Finally, Legal & General Group Plc grew its stake in shares of Alibaba Group by 40.4% during the fourth quarter. Legal & General Group Plc now owns 7,770,872 shares of the specialty retailer’s stock worth $1,065,152,000 after acquiring an additional 2,234,676 shares during the last quarter. Hedge funds and other institutional investors own 40.27% of the company’s stock.
A number of brokerages have recently weighed in on BABA. Morgan Stanley set a $196.00 price target on Alibaba Group and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Zacks Investment Research lowered Alibaba Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Alibaba Group in a research report on Thursday, January 31st. Barclays upped their target price on Alibaba Group from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday. Finally, ValuEngine upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $211.54.
NYSE BABA opened at $185.78 on Wednesday. Alibaba Group Holding Ltd has a one year low of $129.77 and a one year high of $211.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $475.81 billion, a P/E ratio of 46.10, a PEG ratio of 1.57 and a beta of 2.30.
Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, January 30th. The specialty retailer reported $12.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $10.83. The firm had revenue of $117.28 billion during the quarter, compared to the consensus estimate of $118.52 billion. Alibaba Group had a return on equity of 12.44% and a net margin of 19.87%. The firm’s revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. On average, sell-side analysts forecast that Alibaba Group Holding Ltd will post 3.65 earnings per share for the current year.
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Alibaba Group Profile
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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