Banque Pictet & Cie SA Increases Position in Alibaba Group Holding Limited (NYSE:BABA)

Banque Pictet & Cie SA grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 340,848 shares of the specialty retailer’s stock after buying an additional 2,132 shares during the period. Banque Pictet & Cie SA’s holdings in Alibaba Group were worth $9,656,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Logan Capital Management Inc. purchased a new stake in shares of Alibaba Group in the first quarter valued at about $29,000. Sageworth Trust Co purchased a new position in Alibaba Group during the first quarter worth about $43,000. Burleson & Company LLC purchased a new position in Alibaba Group during the first quarter worth about $45,000. Cowen Prime Advisors LLC purchased a new position in Alibaba Group during the second quarter worth about $45,000. Finally, Financial Management Professionals Inc. raised its holdings in Alibaba Group by 314.6% during the second quarter. Financial Management Professionals Inc. now owns 199 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 151 shares in the last quarter. 24.48% of the stock is owned by institutional investors and hedge funds.

NYSE:BABA opened at $145.08 on Monday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.12. The company has a market cap of $394.35 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.31 and a beta of 0.79. Alibaba Group Holding Limited has a fifty-two week low of $144.57 and a fifty-two week high of $319.32. The firm’s 50 day moving average is $177.95 and its two-hundred day moving average is $206.70.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $14.86. The company had revenue of $205.74 billion for the quarter, compared to the consensus estimate of $208.67 billion. Alibaba Group had a net margin of 19.25% and a return on equity of 12.92%. Alibaba Group’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $14.82 earnings per share. Research analysts forecast that Alibaba Group Holding Limited will post 8.3 earnings per share for the current fiscal year.

Several research analysts recently issued reports on the stock. Susquehanna cut their price target on shares of Alibaba Group from $350.00 to $310.00 and set a “positive” rating for the company in a report on Thursday, August 5th. CLSA dropped their target price on shares of Alibaba Group from $300.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, August 4th. Benchmark dropped their target price on shares of Alibaba Group from $282.00 to $277.00 and set a “buy” rating for the company in a report on Wednesday, August 4th. KGI Securities initiated coverage on shares of Alibaba Group in a report on Monday, September 6th. They issued a “neutral” rating for the company. Finally, Citigroup dropped their target price on shares of Alibaba Group from $306.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 4th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus target price of $297.55.

About Alibaba Group

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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