Sumitomo Mitsui Trust Holdings Inc. Boosts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Sumitomo Mitsui Trust Holdings Inc. grew its position in Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 11.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,671 shares of the specialty retailer’s stock after acquiring an additional 8,683 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Alibaba Group were worth $9,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in BABA. Bridgewater Associates LP increased its holdings in shares of Alibaba Group by 75.3% in the 1st quarter. Bridgewater Associates LP now owns 7,480,545 shares of the specialty retailer’s stock valued at $813,883,000 after acquiring an additional 3,212,150 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Alibaba Group by 31.3% in the 1st quarter. E Fund Management Co. Ltd. now owns 12,150,324 shares of the specialty retailer’s stock valued at $1,321,955,000 after acquiring an additional 2,899,453 shares during the last quarter. RWWM Inc. increased its holdings in shares of Alibaba Group by 170.2% in the 1st quarter. RWWM Inc. now owns 2,733,556 shares of the specialty retailer’s stock valued at $297,411,000 after acquiring an additional 1,722,049 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Alibaba Group by 38.4% in the 1st quarter. First Eagle Investment Management LLC now owns 5,714,725 shares of the specialty retailer’s stock valued at $621,762,000 after acquiring an additional 1,585,422 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Alibaba Group by 156.8% in the 1st quarter. 1832 Asset Management L.P. now owns 1,925,060 shares of the specialty retailer’s stock valued at $206,567,000 after acquiring an additional 1,175,289 shares during the last quarter. 14.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BABA. Barclays lowered their price target on Alibaba Group from $161.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, October 3rd. Citigroup reduced their price objective on Alibaba Group from $176.00 to $172.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $130.00 in a research report on Tuesday, July 19th. The Goldman Sachs Group boosted their price objective on Alibaba Group from $163.00 to $167.00 in a research report on Monday, July 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, July 5th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.24.

Alibaba Group Trading Down 2.7 %

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Shares of Alibaba Group stock opened at $73.02 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.13. The firm has a market cap of $193.37 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 1.28 and a beta of 0.61. The business has a fifty day simple moving average of $87.36 and a 200-day simple moving average of $95.77. Alibaba Group Holding Limited has a fifty-two week low of $71.40 and a fifty-two week high of $182.09.

Alibaba Group (NYSE:BABA – Get Rating) last announced its earnings results on Thursday, August 4th. The specialty retailer reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.57. The company had revenue of $30.69 billion for the quarter, compared to analyst estimates of $31.15 billion. Alibaba Group had a return on equity of 10.03% and a net margin of 3.69%. On average, equities analysts forecast that Alibaba Group Holding Limited will post 6.28 EPS for the current fiscal year.

Alibaba Group Company Profile

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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.