BOCHK Asset Management Ltd Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

BOCHK Asset Management Ltd bought a new position in Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 61,600 shares of the specialty retailer’s stock, valued at approximately $6,537,000. Alibaba Group accounts for 1.9% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors have also recently bought and sold shares of the business. Fiduciary Alliance LLC lifted its holdings in shares of Alibaba Group by 154.1% during the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after acquiring an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after purchasing an additional 139,134 shares during the period. SRN Advisors LLC boosted its holdings in Alibaba Group by 76.7% during the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares in the last quarter. Generate Investment Management Ltd bought a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $12,656,000. Finally, ORG Partners LLC raised its holdings in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after buying an additional 11,064 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of several recent analyst reports. Susquehanna decreased their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Robert W. Baird increased their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Finally, Truist Financial lowered their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Alibaba Group Stock Down 2.0 %

Shares of NYSE BABA traded down $1.92 during midday trading on Thursday, reaching $96.08. The company’s stock had a trading volume of 9,191,733 shares, compared to its average volume of 17,845,982. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The stock has a 50 day simple moving average of $93.46 and a 200-day simple moving average of $82.82. The stock has a market capitalization of $243.80 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 0.55 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the company earned $2.47 EPS. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Alibaba Group Company 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.