Pictet Asset Management Ltd. trimmed its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 0.6% during the first quarter, HoldingsChannel.com reports. The fund owned 3,005,582 shares of the specialty retailer’s stock after selling 19,519 shares during the period. Alibaba Group comprises about 1.2% of Pictet Asset Management Ltd.’s investment portfolio, making the stock its 6th largest position. Pictet Asset Management Ltd.’s holdings in Alibaba Group were worth $548,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of BABA. Farmers National Bank acquired a new stake in Alibaba Group in the 1st quarter valued at $25,000. Cribstone Capital Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $27,000. Manchester Capital Management LLC increased its stake in Alibaba Group by 171.4% in the 1st quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Archford Capital Strategies LLC increased its stake in Alibaba Group by 80.4% in the 4th quarter. Archford Capital Strategies LLC now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 82 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 40.68% of the company’s stock.

Several equities research analysts have issued reports on the stock. Barclays lifted their price target on shares of Alibaba Group from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. KeyCorp reiterated an “overweight” rating and issued a $240.00 price target (up from $210.00) on shares of Alibaba Group in a research note on Tuesday, May 7th. ValuEngine upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Zacks Investment Research upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, Robert W. Baird lifted their price target on shares of Alibaba Group from $178.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, March 29th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $216.85.

Shares of BABA opened at $149.26 on Monday. Alibaba Group Holding Ltd has a one year low of $129.77 and a one year high of $211.70. The stock has a market capitalization of $382.28 billion, a PE ratio of 41.58, a PEG ratio of 1.09 and a beta of 2.32. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.18.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, topping the consensus estimate of $0.75 by $7.82. The business had revenue of $93.50 billion during the quarter, compared to the consensus estimate of $91.68 billion. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. Alibaba Group’s revenue was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.73 EPS. On average, research analysts forecast that Alibaba Group Holding Ltd will post 5.1 earnings per share for the current fiscal year.

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Alibaba Group Company Profile

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

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