IFP Advisors Inc grew its position in Alibaba Group Holding Ltd (NYSE:BABA) by 12.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,002 shares of the specialty retailer’s stock after acquiring an additional 4,634 shares during the period. IFP Advisors Inc’s holdings in Alibaba Group were worth $7,893,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. MUFG Americas Holdings Corp acquired a new stake in Alibaba Group in the 4th quarter valued at about $101,000. Avestar Capital LLC acquired a new stake in Alibaba Group in the 4th quarter valued at about $102,000. Riverhead Capital Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at about $110,000. Lenox Wealth Advisors Inc. grew its stake in shares of 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 buying an additional 580 shares during the period. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $107,000. Hedge funds and other institutional investors own 37.91% of the company’s stock.
Several research firms have recently weighed in on BABA. Wells Fargo & Co reissued an “outperform” rating and issued a $220.00 price target on shares of Alibaba Group in a research note on Monday, May 7th. Raymond James reissued a “strong-buy” rating and issued a $300.00 price target (up previously from $250.00) on shares of Alibaba Group in a research note on Thursday, May 24th. KeyCorp increased their price target on shares of Alibaba Group from $219.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, May 7th. Benchmark reissued a “buy” rating and issued a $245.00 price target on shares of Alibaba Group in a research note on Monday, May 7th. Finally, Oppenheimer increased their price objective on shares of Alibaba Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, May 7th. One investment analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $224.75.
Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, May 4th. The specialty retailer reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.11). The firm had revenue of $9.87 billion during the quarter, compared to analysts’ expectations of $9.36 billion. Alibaba Group had a net margin of 25.39% and a return on equity of 16.61%. During the same period in the previous year, the firm earned $0.63 EPS. equities analysts expect that Alibaba Group Holding Ltd will post 5.38 earnings per share for the current year.
About Alibaba Group
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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