Equitable Trust Co. lifted its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 441.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,949 shares of the specialty retailer’s stock after acquiring an additional 6,482 shares during the quarter. Equitable Trust Co.’s holdings in Alibaba Group were worth $1,090,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Girard Partners LTD. grew its holdings in shares of Alibaba Group by 13.0% during the fourth quarter. Girard Partners LTD. now owns 1,258 shares of the specialty retailer’s stock worth $172,000 after buying an additional 145 shares in the last quarter. Capital Financial Planning LLC purchased a new stake in shares of Alibaba Group during the fourth quarter worth about $29,000. Optimus Prime Fund Management Co. Ltd. purchased a new stake in shares of Alibaba Group during the fourth quarter worth about $15,434,000. Kistler Tiffany Companies LLC grew its holdings in shares of Alibaba Group by 10.9% during the fourth quarter. Kistler Tiffany Companies LLC now owns 5,480 shares of the specialty retailer’s stock worth $751,000 after buying an additional 538 shares in the last quarter. Finally, Caxton Associates LP grew its holdings in shares of Alibaba Group by 52.5% during the fourth quarter. Caxton Associates LP now owns 606,000 shares of the specialty retailer’s stock worth $83,064,000 after buying an additional 208,700 shares in the last quarter. Hedge funds and other institutional investors own 40.27% of the company’s stock.
BABA has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Robert W. Baird raised their target price on shares of Alibaba Group from $178.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, March 29th. Barclays raised their target price on shares of Alibaba Group from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. SunTrust Banks reissued a “buy” rating and issued a $200.00 target price (up from $180.00) on shares of Alibaba Group in a research report on Thursday, January 31st. Finally, Sanford C. Bernstein reissued a “mkt perform” rating on shares of Alibaba Group in a research report on Monday, January 14th. One research analyst has rated the stock with a sell rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $211.54.
Alibaba Group (NYSE:BABA) last released its earnings results on Wednesday, January 30th. The specialty retailer reported $12.19 earnings per share for the quarter, beating the consensus estimate of $1.36 by $10.83. Alibaba Group had a net margin of 19.87% and a return on equity of 12.44%. The firm had revenue of $117.28 billion during the quarter, compared to analyst estimates of $118.52 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. As a group, equities research analysts forecast that Alibaba Group Holding Ltd will post 3.68 EPS for the current fiscal year.
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About Alibaba Group
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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