Trustmark Bank Trust Department Raises Stock Position in Alibaba Group Holding Limited $BABA

Trustmark Bank Trust Department raised its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 174.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,386 shares of the specialty retailer’s stock after acquiring an additional 12,323 shares during the quarter. Trustmark Bank Trust Department’s holdings in Alibaba Group were worth $2,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC raised its stake in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after purchasing an additional 49,010,087 shares during the period. Norges Bank bought a new position in Alibaba Group in the 2nd quarter worth approximately $527,243,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock valued at $1,131,558,000 after buying an additional 3,947,460 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after buying an additional 2,885,154 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after buying an additional 2,584,480 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

BABA has been the subject of several research analyst reports. Sanford C. Bernstein cut their target price on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group restated a “buy” rating and set a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Jefferies Financial Group lifted their target price on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. CLSA increased their price target on Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Finally, Barclays raised their price target on Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.89.

Alibaba Group Stock Down 0.3%

Shares of NYSE:BABA opened at $157.19 on Friday. The company has a market cap of $375.06 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $168.30 and a 200 day moving average price of $138.85.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.