Comerica Securities Inc. increased its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 20.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,578 shares of the specialty retailer’s stock after buying an additional 596 shares during the quarter. Comerica Securities Inc.’s holdings in Alibaba Group were worth $590,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of BABA. Duncker Streett & Co. Inc. grew its stake in shares of Alibaba Group by 195.1% in the second quarter. Duncker Streett & Co. Inc. now owns 605 shares of the specialty retailer’s stock worth $112,000 after purchasing an additional 400 shares in the last quarter. Stelac Advisory Services LLC bought a new position in shares of Alibaba Group in the second quarter worth $116,000. AlphaMark Advisors LLC grew its stake in shares of Alibaba Group by 468.8% in the third quarter. AlphaMark Advisors LLC now owns 910 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 750 shares in the last quarter. OLD Second National Bank of Aurora grew its stake in shares of Alibaba Group by 44.4% in the second quarter. OLD Second National Bank of Aurora now owns 975 shares of the specialty retailer’s stock worth $180,000 after purchasing an additional 300 shares in the last quarter. Finally, Trustcore Financial Services LLC grew its stake in shares of Alibaba Group by 49.5% in the second quarter. Trustcore Financial Services LLC now owns 1,003 shares of the specialty retailer’s stock worth $186,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 38.76% of the company’s stock.
Several research firms have recently issued reports on BABA. Nomura decreased their price target on Alibaba Group from $224.00 to $202.00 and set a “buy” rating for the company in a research note on Monday, October 29th. KeyCorp set a $203.00 price target on Alibaba Group and gave the stock an “overweight” rating in a research note on Monday, November 5th. UBS Group set a $245.00 price objective on Alibaba Group and gave the company a “buy” rating in a report on Friday, August 24th. Raymond James cut their price objective on Alibaba Group from $300.00 to $280.00 and set a “strong-buy” rating for the company in a report on Thursday, August 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $256.00 price objective on shares of Alibaba Group in a report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $216.02.
Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 2nd. The specialty retailer reported $1.01 EPS for the quarter, beating the consensus estimate of $0.82 by $0.19. Alibaba Group had a return on equity of 12.99% and a net margin of 19.33%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same period in the prior year, the business posted $1.29 earnings per share. Alibaba Group’s revenue was up 49.6% compared to the same quarter last year. On average, research analysts anticipate that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current fiscal year.
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Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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