ABS Direct Equity Fund LLC Takes $922,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

ABS Direct Equity Fund LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,900 shares of the specialty retailer’s stock, valued at approximately $922,000.

A number of other hedge funds also recently bought and sold shares of the business. U.S. Capital Wealth Advisors LLC acquired a new stake in Alibaba Group in the 4th quarter valued at $577,000. Alterna Wealth Management Inc. grew its position in shares of Alibaba Group by 5.9% in the fourth quarter. Alterna Wealth Management Inc. now owns 3,763 shares of the specialty retailer’s stock valued at $292,000 after purchasing an additional 209 shares during the period. M&T Bank Corp increased its stake in shares of Alibaba Group by 19.1% during the fourth quarter. M&T Bank Corp now owns 51,805 shares of the specialty retailer’s stock worth $4,015,000 after purchasing an additional 8,318 shares in the last quarter. Merit Financial Group LLC raised its position in shares of Alibaba Group by 5.1% during the 4th quarter. Merit Financial Group LLC now owns 4,405 shares of the specialty retailer’s stock worth $341,000 after purchasing an additional 214 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Alibaba Group by 9.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,710 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 1.2 %

BABA traded up $1.00 during trading hours on Friday, hitting $81.33. 19,355,807 shares of the company’s stock were exchanged, compared to its average volume of 15,275,838. The firm has a market cap of $206.37 billion, a P/E ratio of 15.01 and a beta of 0.44. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $102.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $73.47 and a 200 day moving average of $75.22.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The company had revenue of $260.35 billion for 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 firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 EPS. Analysts predict that Alibaba Group Holding Limited will post 7.54 EPS for the current fiscal year.

Analyst Ratings Changes

BABA has been the subject of a number of research analyst reports. Susquehanna reduced their target price on Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 8th. Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, April 10th. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. lowered their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group lowered their price objective on Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $112.91.

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.