Primecap Management Co. CA Grows Position in Alibaba Group Holding Limited (NYSE:BABA)

Primecap Management Co. CA grew its stake in Alibaba Group Holding Limited (NYSE:BABA) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,955,107 shares of the specialty retailer’s stock after purchasing an additional 37,555 shares during the period. Alibaba Group comprises approximately 1.4% of Primecap Management Co. CA’s investment portfolio, making the stock its 19th largest holding. Primecap Management Co. CA owned 0.92% of Alibaba Group worth $1,861,574,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after buying an additional 3,740,150 shares in the last quarter. Hhlr Advisors LTD. lifted its position in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after buying an additional 3,448,152 shares in the last quarter. FMR LLC lifted its position in shares of Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after buying an additional 2,959,954 shares in the last quarter. Appaloosa LP lifted its position in shares of Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after buying an additional 1,843,158 shares in the last quarter. Finally, Aspex Management HK Ltd purchased a new position in shares of Alibaba Group during the 3rd quarter valued at approximately $115,995,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $147.56 on Tuesday. The business has a 50-day moving average of $111.98 and a 200 day moving average of $99.32. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $148.75. The stock has a market capitalization of $350.60 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). The company had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. As a group, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Analysts Set New Price Targets

BABA has been the topic of a number of recent analyst reports. Barclays increased their target price on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Sanford C. Bernstein raised Alibaba Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Robert W. Baird raised their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Benchmark raised their target price on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus target price of $144.07.

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.