Investec Asset Management North America Inc. increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 15.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,171 shares of the specialty retailer’s stock after purchasing an additional 52,445 shares during the quarter. Alibaba Group makes up approximately 11.4% of Investec Asset Management North America Inc.’s holdings, making the stock its largest holding. Investec Asset Management North America Inc.’s holdings in Alibaba Group were worth $67,214,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Schwab Charles Investment Management Inc. lifted its stake in shares of Alibaba Group by 20.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 17,898 shares of the specialty retailer’s stock valued at $1,930,000 after purchasing an additional 3,027 shares in the last quarter. ING Groep NV lifted its position in Alibaba Group by 2.2% during the 2nd quarter. ING Groep NV now owns 63,617 shares of the specialty retailer’s stock worth $8,964,000 after acquiring an additional 1,390 shares in the last quarter. Boston Advisors LLC acquired a new position in Alibaba Group during the 2nd quarter worth approximately $817,000. Cornerstone Advisors Inc. lifted its position in Alibaba Group by 1.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,259 shares of the specialty retailer’s stock worth $318,000 after acquiring an additional 30 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its position in Alibaba Group by 14.5% during the 2nd quarter. Aviance Capital Partners LLC now owns 16,978 shares of the specialty retailer’s stock worth $2,392,000 after acquiring an additional 2,156 shares in the last quarter. 38.13% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, November 24th. Oppenheimer reiterated a “buy” rating and issued a $220.00 price target (up from $200.00) on shares of Alibaba Group in a report on Monday, November 6th. Vetr upgraded Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $209.21 price objective for the company in a research note on Wednesday, November 29th. BidaskClub upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Needham & Company LLC upped their price objective on Alibaba Group from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $185.14.
Shares of Alibaba Group Holding Limited (NYSE BABA) opened at $172.63 on Thursday. The stock has a market capitalization of $432,732.59, a PE ratio of 49.12, a PEG ratio of 1.28 and a beta of 2.52. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71.
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Alibaba Group Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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