Checchi Capital Advisers LLC boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 9,940 shares of the specialty retailer’s stock after buying an additional 336 shares during the period. Checchi Capital Advisers LLC’s holdings in Alibaba Group Holding Limited were worth $1,401,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Savant Capital LLC purchased a new stake in shares of Alibaba Group Holding Limited during the second quarter valued at approximately $247,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Alibaba Group Holding Limited by 0.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 255,300 shares of the specialty retailer’s stock valued at $35,972,000 after buying an additional 1,900 shares in the last quarter. Blue Fin Capital Inc. increased its stake in shares of Alibaba Group Holding Limited by 15.4% in the second quarter. Blue Fin Capital Inc. now owns 2,242 shares of the specialty retailer’s stock valued at $315,000 after buying an additional 300 shares in the last quarter. Signature Financial Management Inc. increased its stake in shares of Alibaba Group Holding Limited by 4.7% in the second quarter. Signature Financial Management Inc. now owns 3,311 shares of the specialty retailer’s stock valued at $467,000 after buying an additional 149 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its stake in shares of Alibaba Group Holding Limited by 37.7% in the second quarter. ClariVest Asset Management LLC now owns 241,878 shares of the specialty retailer’s stock valued at $34,079,000 after buying an additional 66,193 shares in the last quarter. Institutional investors own 36.81% of the company’s stock.

Shares of Alibaba Group Holding Limited (NYSE BABA) opened at 154.61 on Tuesday. The company has a market cap of $391.16 billion, a PE ratio of 61.18 and a beta of 2.64. Alibaba Group Holding Limited has a 12-month low of $86.01 and a 12-month high of $160.39. The company has a 50 day moving average of $150.14 and a 200-day moving average of $123.15.

Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the business posted $0.47 EPS. Equities research analysts anticipate that Alibaba Group Holding Limited will post $4.64 earnings per share for the current year.

Alibaba Group Holding Limited declared that its board has authorized a stock buyback program on Thursday, May 18th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on Alibaba Group Holding Limited from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday. Vetr upgraded Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $173.25 target price for the company in a research note on Tuesday. BidaskClub upgraded Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Barclays PLC raised their target price on Alibaba Group Holding Limited to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Finally, Instinet reiterated a “buy” rating on shares of Alibaba Group Holding Limited in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Alibaba Group Holding Limited has an average rating of “Buy” and a consensus target price of $146.89.

Alibaba Group Holding Limited Company Profile

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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Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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