48,624 Shares in Alibaba Group Holding Limited (NYSE:BABA) Purchased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 48,624 shares of the specialty retailer’s stock, valued at approximately $3,501,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC raised its position in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group in the 1st quarter worth $31,000. Asset Dedication LLC grew its position in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after buying an additional 400 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Alibaba Group during the fourth quarter valued at $42,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $88.29 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $90.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $224.04 billion, a PE ratio of 20.58, a P/E/G ratio of 0.43 and a beta of 0.33. The business has a 50-day simple moving average of $80.79 and a two-hundred day simple moving average of $77.63.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business earned $2.47 EPS. As a group, equities analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Loop Capital reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Finally, Bank of America lifted their price target on Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

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.