Taikang Asset Management Hong Kong Co Ltd Boosts Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Taikang Asset Management Hong Kong Co Ltd raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 130,000 shares of the specialty retailer’s stock after purchasing an additional 10,000 shares during the period. Alibaba Group comprises 1.6% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 13th largest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in Alibaba Group were worth $11,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Sanders Capital LLC increased its holdings in shares of Alibaba Group by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock valued at $1,959,021,000 after acquiring an additional 60,667 shares during the period. Appaloosa LP increased its stake in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Hhlr Advisors LTD. raised its holdings in shares of Alibaba Group by 64.1% in the third 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 during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Alibaba Group by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer’s stock worth $431,906,000 after buying an additional 78,757 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Alibaba Group by 3,180.1% during the third 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 worth $409,385,000 after buying an additional 3,740,150 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Bank of America upped their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Benchmark increased their price target on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays boosted their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, Morgan Stanley upgraded shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Stock Performance

NYSE BABA opened at $134.58 on Tuesday. The business has a 50 day moving average price of $117.57 and a 200 day moving average price of $101.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $319.76 billion, a P/E ratio of 19.45, a PEG ratio of 0.61 and a beta of 0.28. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.43.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results 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 firm had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Alibaba Group 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.