Jacobi Capital Management LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 5.8% in the first quarter, Holdings Channel.com reports. The fund owned 3,548 shares of the specialty retailer’s stock after buying an additional 194 shares during the quarter. Jacobi Capital Management LLC’s holdings in Alibaba Group were worth $386,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of BABA. Arete Wealth Advisors LLC raised its position in Alibaba Group by 63.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 6,493 shares of the specialty retailer’s stock valued at $708,000 after purchasing an additional 2,509 shares in the last quarter. LifePro Asset Management bought a new stake in Alibaba Group during the 1st quarter valued at $5,558,000. Private Management Group Inc. raised its position in Alibaba Group by 22.4% during the 1st quarter. Private Management Group Inc. now owns 197,790 shares of the specialty retailer’s stock valued at $21,520,000 after purchasing an additional 36,243 shares in the last quarter. Balentine LLC raised its position in Alibaba Group by 75.5% during the 1st quarter. Balentine LLC now owns 7,655 shares of the specialty retailer’s stock valued at $833,000 after purchasing an additional 3,293 shares in the last quarter. Finally, Pzena Investment Management LLC raised its position in Alibaba Group by 1.8% during the 1st quarter. Pzena Investment Management LLC now owns 31,401 shares of the specialty retailer’s stock valued at $3,416,000 after purchasing an additional 548 shares in the last quarter. 17.39% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
BABA has been the subject of a number of research analyst reports. Mizuho decreased their target price on Alibaba Group from $180.00 to $160.00 in a research report on Monday, May 2nd. HSBC decreased their target price on Alibaba Group from $146.00 to $141.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Truist Financial lifted their price target on Alibaba Group from $132.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. Barclays cut their price target on Alibaba Group from $170.00 to $161.00 and set an “overweight” rating on the stock in a report on Friday, May 27th. Finally, The Goldman Sachs Group lifted their price target on Alibaba Group from $163.00 to $167.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.83.
Alibaba Group Stock Down 5.0 %
Alibaba Group (NYSE:BABA – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The specialty retailer reported $11.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $10.23. The business had revenue of $205.56 billion during the quarter, compared to analysts’ expectations of $203.80 billion. Alibaba Group had a return on equity of 9.90% and a net margin of 3.69%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. Equities analysts anticipate that Alibaba Group Holding Limited will post 6.34 EPS for the current year.
Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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