Primecap Management Co. CA Buys 140,579 Shares of Alibaba Group Holding Limited $BABA

Primecap Management Co. CA raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,764,276 shares of the specialty retailer’s stock after acquiring an additional 140,579 shares during the period. Alibaba Group comprises 1.9% of Primecap Management Co. CA’s holdings, making the stock its 12th largest position. Primecap Management Co. CA’s holdings in Alibaba Group were worth $2,354,877,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC increased its position in shares of Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new position in shares of Alibaba Group during the first quarter valued at about $26,000. 1248 Management LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $26,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Alibaba Group in the second quarter worth about $26,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 1.5%

Shares of NYSE BABA opened at $160.05 on Wednesday. The firm’s 50 day moving average price is $168.49 and its 200-day moving average price is $137.27. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $381.89 billion, a PE ratio of 18.61, a P/E/G ratio of 2.40 and a beta of 0.19.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BABA shares. Robert W. Baird upped their price target on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Barclays upped their target price on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Susquehanna boosted their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. Mizuho set a $195.00 price objective on shares of Alibaba Group in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.