Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,731,545 shares of the specialty retailer’s stock after acquiring an additional 236,236 shares during the quarter. Bank of Montreal Can’s holdings in Alibaba Group were worth $811,269,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Logan Capital Management Inc. purchased a new stake in shares of Alibaba Group during the 1st quarter worth $29,000. Sageworth Trust Co purchased a new stake in shares of Alibaba Group in the 1st quarter worth about $43,000. Burleson & Company LLC purchased a new stake in shares of Alibaba Group in the 1st quarter worth about $45,000. Cowen Prime Advisors LLC purchased a new position in Alibaba Group in the 2nd quarter valued at about $45,000. Finally, Financial Management Professionals Inc. lifted its holdings in Alibaba Group by 314.6% in the 2nd quarter. Financial Management Professionals Inc. now owns 199 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 151 shares in the last quarter. 24.48% of the stock is currently owned by institutional investors and hedge funds.

NYSE:BABA opened at $144.82 on Monday. Alibaba Group Holding Limited has a 1 year low of $144.57 and a 1 year high of $319.32. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.12. The stock has a market cap of $393.65 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.31 and a beta of 0.79. The stock has a 50-day moving average price of $177.95 and a two-hundred day moving average price of $206.70.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share for the quarter, topping the consensus estimate of $1.74 by $14.86. The company had revenue of $205.74 billion during the quarter, compared to analysts’ expectations of $208.67 billion. Alibaba Group had a return on equity of 12.92% and a net margin of 19.25%. Alibaba Group’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $14.82 earnings per share. Sell-side analysts forecast that Alibaba Group Holding Limited will post 8.3 earnings per share for the current year.

BABA has been the topic of a number of recent research reports. UBS Group reduced their target price on shares of Alibaba Group from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. KeyCorp dropped their price objective on shares of Alibaba Group from $270.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, August 4th. Oppenheimer dropped their price objective on shares of Alibaba Group from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, August 4th. Susquehanna Bancshares dropped their price objective on shares of Alibaba Group from $350.00 to $310.00 and set a “positive” rating for the company in a research note on Thursday, August 5th. Finally, Benchmark dropped their target price on shares of Alibaba Group from $282.00 to $277.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus target price of $297.55.

Alibaba Group Company Profile

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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