Raymond James & Associates lifted its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 921,455 shares of the specialty retailer’s stock after buying an additional 104,705 shares during the quarter. Raymond James & Associates’ holdings in Alibaba Group were worth $158,886,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in BABA. MUFG Americas Holdings Corp acquired a new position in Alibaba Group in the 4th quarter valued at $101,000. Avestar Capital LLC acquired a new position in Alibaba Group in the 4th quarter valued at $102,000. First Eagle Investment Management LLC acquired a new position in Alibaba Group in the 3rd quarter valued at $104,000. Lenox Wealth Advisors Inc. raised its stake in Alibaba Group by 2,636.4% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 602 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 580 shares during the last quarter. Finally, Trustcore Financial Services LLC acquired a new position in Alibaba Group in the 4th quarter valued at $107,000. 37.76% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the company. Morgan Stanley set a $250.00 price objective on Alibaba Group and gave the company a “buy” rating in a research note on Monday, January 29th. KeyCorp increased their price objective on Alibaba Group from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Zacks Investment Research raised Alibaba Group from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a research note on Monday, December 4th. Deutsche Bank increased their price objective on Alibaba Group to $218.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Stifel Nicolaus increased their price objective on Alibaba Group from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $211.22.
Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.08). The business had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $12.36 billion. Alibaba Group had a return on equity of 17.61% and a net margin of 29.57%. During the same quarter in the prior year, the company posted $1.30 earnings per share. research analysts predict that Alibaba Group Holding Ltd will post 4.05 earnings per share for the current year.
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About Alibaba Group
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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