HM Payson & Co. Boosts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Posted by Adam Dyson on Apr 8th, 2021

HM Payson & Co. lifted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 174.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,618 shares of the specialty retailer’s stock after purchasing an additional 2,301 shares during the quarter. HM Payson & Co.’s holdings in Alibaba Group were worth $842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BABA. Claudia M.P. Batlle CRP R LLC purchased a new position in shares of Alibaba Group in the third quarter worth $25,000. Meeder Asset Management Inc. raised its stake in shares of Alibaba Group by 62.9% in the fourth quarter. Meeder Asset Management Inc. now owns 114 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 44 shares during the last quarter. Inspire Advisors LLC purchased a new stake in Alibaba Group during the fourth quarter valued at $27,000. Planned Solutions Inc. increased its position in Alibaba Group by 66.7% during the fourth quarter. Planned Solutions Inc. now owns 125 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 50 shares during the last quarter. Finally, ForthRight Wealth Management LLC purchased a new stake in Alibaba Group during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 40.38% of the company’s stock.

Shares of Alibaba Group stock opened at $225.42 on Thursday. Alibaba Group Holding Limited has a 12 month low of $189.53 and a 12 month high of $319.32. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $237.68 and a 200 day moving average of $261.24. The firm has a market cap of $609.90 billion, a PE ratio of 32.34, a PEG ratio of 1.59 and a beta of 0.99.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Monday, February 1st. The specialty retailer reported $22.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $19.25. Alibaba Group had a return on equity of 12.74% and a net margin of 22.56%. The business had revenue of $221.08 billion for the quarter, compared to the consensus estimate of $214.39 billion. During the same period in the prior year, the business posted $18.19 earnings per share. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 7.84 earnings per share for the current fiscal year.

A number of research firms recently commented on BABA. Deutsche Bank Aktiengesellschaft reduced their price objective on Alibaba Group from $360.00 to $319.00 and set a “buy” rating for the company in a research report on Tuesday, January 26th. Sanford C. Bernstein began coverage on Alibaba Group in a research report on Monday, January 25th. They set a “market perform” rating for the company. Truist upped their price objective on Alibaba Group from $326.00 to $330.00 in a research report on Friday, March 19th. HSBC upped their price objective on Alibaba Group from $329.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Finally, Raymond James upped their price objective on Alibaba Group from $330.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 3rd. Three analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $321.00.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

HM Payson & Co. Boosts Stake in Alibaba Group Holding Limited (NYSE:BABA)

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