Fernwood Investment Management LLC held its stake in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, Holdings Channel reports. The institutional investor owned 8,413 shares of the specialty retailer’s stock at the end of the second quarter. Fernwood Investment Management LLC’s holdings in Alibaba Group Holding Limited were worth $1,185,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock worth $6,145,123,000 after buying an additional 54,829,289 shares during the period. Schroder Investment Management Group boosted its stake in Alibaba Group Holding Limited by 3.3% in the first quarter. Schroder Investment Management Group now owns 24,415,309 shares of the specialty retailer’s stock worth $2,657,606,000 after buying an additional 776,232 shares during the period. OppenheimerFunds Inc. boosted its stake in Alibaba Group Holding Limited by 10.4% in the first quarter. OppenheimerFunds Inc. now owns 21,635,868 shares of the specialty retailer’s stock worth $2,332,996,000 after buying an additional 2,030,747 shares during the period. State Street Corp boosted its stake in Alibaba Group Holding Limited by 1.8% in the first quarter. State Street Corp now owns 18,826,837 shares of the specialty retailer’s stock worth $2,030,102,000 after buying an additional 329,969 shares during the period. Finally, FMR LLC boosted its stake in Alibaba Group Holding Limited by 3.8% in the first quarter. FMR LLC now owns 17,733,916 shares of the specialty retailer’s stock worth $1,912,249,000 after buying an additional 642,778 shares during the period. 36.81% of the stock is currently owned by institutional investors.

Shares of Alibaba Group Holding Limited (NYSE:BABA) opened at 157.75 on Wednesday. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $160.39. The firm has a market cap of $399.11 billion, a price-to-earnings ratio of 62.43 and a beta of 2.64. The firm’s 50 day moving average is $150.57 and its 200-day moving average is $123.55.

Alibaba Group Holding Limited (NYSE:BABA) last released its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.26 billion. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. During the same period last year, the business posted $0.47 EPS. Equities research analysts predict that Alibaba Group Holding Limited will post $4.65 EPS for the current year.

Alibaba Group Holding Limited declared that its board has authorized a share repurchase plan on Thursday, May 18th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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BABA has been the topic of a number of recent analyst reports. CIBC lifted their price target on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, May 23rd. J P Morgan Chase & Co initiated coverage on Alibaba Group Holding Limited in a report on Tuesday, June 27th. They set an “overweight” rating and a $190.00 price target on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a report on Monday, May 22nd. Vetr raised Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $173.25 price target on the stock in a report on Tuesday. Finally, SunTrust Banks, Inc. initiated coverage on Alibaba Group Holding Limited in a report on Tuesday. They set a “buy” rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $149.52.

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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