Granite Investment Advisors LLC cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 9.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,300 shares of the specialty retailer’s stock after selling 1,090 shares during the period. Granite Investment Advisors LLC’s holdings in Alibaba Group Holding Limited were worth $1,570,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. bought a new position in shares of Alibaba Group Holding Limited during the second quarter worth about $102,000. Lee Financial Co boosted its position in shares of Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Alibaba Group Holding Limited by 9.4% in the second quarter. Carroll Financial Associates Inc. now owns 930 shares of the specialty retailer’s stock worth $131,000 after buying an additional 80 shares during the period. West Oak Capital LLC boosted its position in shares of Alibaba Group Holding Limited by 81.0% in the second quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock worth $134,000 after buying an additional 425 shares during the period. Finally, FNY Managed Accounts LLC bought a new position in shares of Alibaba Group Holding Limited during the first quarter worth about $107,000. Institutional investors and hedge funds own 36.75% of the company’s stock.

Alibaba Group Holding Limited (NYSE BABA) opened at 151.77 on Friday. The stock’s 50 day moving average price is $149.54 and its 200-day moving average price is $122.11. The firm has a market cap of $383.98 billion, a PE ratio of 60.06 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.

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

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

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A number of brokerages have issued reports on BABA. BidaskClub upgraded Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a report on Thursday. Barclays PLC lifted their price objective on Alibaba Group Holding Limited to $180.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. HSBC Holdings plc reiterated a “buy” rating and set a $168.00 price objective (up previously from $162.00) on shares of Alibaba Group Holding Limited in a report on Saturday, July 22nd. Instinet reiterated a “buy” rating on shares of Alibaba Group Holding Limited in a report on Saturday, July 22nd. Finally, Atlantic Securities reiterated a “hold” rating on shares of Alibaba Group Holding Limited in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have given a buy rating and three have assigned a strong buy rating to the stock. Alibaba Group Holding Limited has a consensus rating of “Buy” and a consensus target price of $142.21.

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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