Handelsbanken Fonder AB Purchases 50,000 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Handelsbanken Fonder AB grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 822,904 shares of the specialty retailer’s stock after purchasing an additional 50,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Alibaba Group were worth $87,327,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. ICA Group Wealth Management LLC boosted its stake in Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after buying an additional 154 shares in the last quarter. EPIQ Capital Group LLC boosted its position in shares of Alibaba Group by 0.3% in the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after acquiring an additional 157 shares during the period. Evolution Wealth Advisors LLC grew its stake in Alibaba Group by 4.1% during the second quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock valued at $288,000 after acquiring an additional 158 shares in the last quarter. Finally, WNY Asset Management LLC increased its holdings in Alibaba Group by 2.8% during the 1st quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock worth $436,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 1.5 %

Shares of NYSE:BABA traded up $1.69 on Friday, reaching $114.53. 25,699,080 shares of the company traded hands, compared to its average volume of 17,586,789. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $116.57. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $86.60 and its 200 day simple moving average is $79.84. The stock has a market capitalization of $290.62 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BABA shares. Sanford C. Bernstein upped their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Robert W. Baird raised their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Loop Capital reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.