Nicholas Hoffman & Company LLC. Acquires 957 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Nicholas Hoffman & Company LLC. raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 84.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,091 shares of the specialty retailer’s stock after purchasing an additional 957 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Alibaba Group were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Camden National Bank grew its position in shares of Alibaba Group by 56.8% in the fourth quarter. Camden National Bank now owns 27,238 shares of the specialty retailer’s stock valued at $6,339,000 after purchasing an additional 9,866 shares during the last quarter. Signet Financial Management LLC grew its position in shares of Alibaba Group by 9.3% in the first quarter. Signet Financial Management LLC now owns 1,015 shares of the specialty retailer’s stock valued at $230,000 after purchasing an additional 86 shares during the last quarter. Avidian Wealth Solutions LLC grew its position in Alibaba Group by 16.3% during the first quarter. Avidian Wealth Solutions LLC now owns 2,680 shares of the specialty retailer’s stock worth $608,000 after buying an additional 375 shares in the last quarter. Donaldson Capital Management LLC acquired a new stake in Alibaba Group during the first quarter worth approximately $200,000. Finally, Bridges Investment Management Inc. acquired a new stake in Alibaba Group during the first quarter worth approximately $995,000. Hedge funds and other institutional investors own 24.48% of the company’s stock.

Shares of Alibaba Group stock opened at $160.15 on Wednesday. The stock has a fifty day simple moving average of $186.81 and a 200 day simple moving average of $211.29. Alibaba Group Holding Limited has a 12-month low of $152.80 and a 12-month high of $319.32. The company has a market capitalization of $435.32 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.31 and a beta of 0.79. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $14.86. Alibaba Group had a return on equity of 12.92% and a net margin of 19.25%. The business had revenue of $205.74 billion during the quarter, compared to the consensus estimate of $208.67 billion. During the same quarter in the prior year, the company posted $14.82 earnings per share. Alibaba Group’s revenue was up 33.8% compared to the same quarter last year. On average, analysts predict that Alibaba Group Holding Limited will post 8.3 EPS for the current year.

A number of brokerages recently issued reports on BABA. CLSA reduced their price target on Alibaba Group from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, August 4th. Susquehanna cut their target price on Alibaba Group from $350.00 to $310.00 and set a “positive” rating for the company in a research note on Thursday, August 5th. Erste Group cut Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, August 20th. DZ Bank cut Alibaba Group from a “buy” rating to a “sell” rating and set a $192.00 target price for the company. in a research note on Tuesday, July 27th. Finally, Benchmark cut their target price on Alibaba Group from $282.00 to $277.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $297.55.

Alibaba Group Company Profile

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

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

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