Federated Hermes Inc. Purchases 24,243 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Federated Hermes Inc. increased its position in Alibaba Group Holding Limited (NYSE:BABA) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,665,737 shares of the specialty retailer’s stock after buying an additional 24,243 shares during the quarter. Federated Hermes Inc.’s holdings in Alibaba Group were worth $129,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new stake in Alibaba Group in the third quarter valued at approximately $26,000. Baystate Wealth Management LLC lifted its position in Alibaba Group by 184.6% in the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 216 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in Alibaba Group in the third quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC lifted its position in Alibaba Group by 116.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in Alibaba Group in the third quarter valued at approximately $30,000. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BABA. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Wednesday, April 10th. Barclays decreased their target price on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating for the company in a report on Friday, January 12th. Mizuho reiterated a “buy” rating and issued a $95.00 price objective on shares of Alibaba Group in a report on Wednesday, March 27th. Citigroup cut their target price on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Stock Performance

NYSE:BABA traded up $0.55 on Thursday, hitting $69.37. The stock had a trading volume of 4,072,612 shares, compared to its average volume of 18,202,887. The stock has a market cap of $176.03 billion, a price-to-earnings ratio of 12.81 and a beta of 0.46. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The business’s 50-day simple moving average is $73.24 and its two-hundred day simple moving average is $76.05. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). The firm had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, research analysts predict that Alibaba Group Holding Limited will post 7.76 earnings per share for the current year.

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.