Executive Wealth Management LLC Acquires New Position in Alibaba Group Holding Ltd (BABA)
Executive Wealth Management LLC acquired a new position in Alibaba Group Holding Ltd (NYSE:BABA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,402 shares of the specialty retailer’s stock, valued at approximately $740,000.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Alibaba Group by 7.4% during the fourth quarter. BlackRock Inc. now owns 67,733,482 shares of the specialty retailer’s stock valued at $9,284,230,000 after acquiring an additional 4,674,615 shares during the period. Federated Investors Inc. PA lifted its stake in shares of Alibaba Group by 449.8% during the third quarter. Federated Investors Inc. PA now owns 3,691,425 shares of the specialty retailer’s stock valued at $608,200,000 after acquiring an additional 3,020,054 shares during the period. Nordea Investment Management AB acquired a new position in shares of Alibaba Group during the third quarter valued at $490,205,000. Legal & General Group Plc lifted its stake in shares of Alibaba Group by 40.4% during the fourth quarter. Legal & General Group Plc now owns 7,770,872 shares of the specialty retailer’s stock valued at $1,065,152,000 after acquiring an additional 2,234,676 shares during the period. Finally, Coatue Management LLC lifted its stake in shares of Alibaba Group by 70.5% during the fourth quarter. Coatue Management LLC now owns 5,348,736 shares of the specialty retailer’s stock valued at $733,151,000 after acquiring an additional 2,212,159 shares during the period. 40.19% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the company. Argus reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Friday, February 1st. HSBC upped their price target on Alibaba Group from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, January 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $180.00 price target (up previously from $175.00) on shares of Alibaba Group in a research note on Thursday, January 31st. KeyCorp set a $200.00 price target on Alibaba Group and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Finally, ValuEngine raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Monday, November 26th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $211.07.
Alibaba Group (NYSE:BABA) last released its earnings results on Wednesday, January 30th. The specialty retailer reported $12.19 earnings per share for the quarter, beating the consensus estimate of $1.36 by $10.83. Alibaba Group had a return on equity of 12.44% and a net margin of 19.87%. The firm had revenue of $117.28 billion for the quarter, compared to analyst estimates of $118.52 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The company’s quarterly revenue was up 41.3% on a year-over-year basis. Research analysts anticipate that Alibaba Group Holding Ltd will post 3.65 EPS for the current year.
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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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