Ballentine Partners LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 56,945 shares of the specialty retailer’s stock, valued at approximately $8,665,000. Alibaba Group Holding Limited comprises approximately 0.6% of Ballentine Partners LLC’s holdings, making the stock its 28th largest position.

Several other hedge funds have also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Alibaba Group Holding Limited during the second quarter worth about $102,000. Lee Financial Co raised its stake in shares of Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Alibaba Group Holding Limited by 9.4% in the second quarter. Carroll Financial Associates Inc. now owns 930 shares of the specialty retailer’s stock worth $131,000 after buying an additional 80 shares during the period. West Oak Capital LLC raised its stake in shares of Alibaba Group Holding Limited by 81.0% in the second quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock worth $134,000 after buying an additional 425 shares during the period. Finally, FNY Managed Accounts LLC bought a new stake in shares of Alibaba Group Holding Limited during the first quarter worth about $107,000. 36.81% of the stock is currently owned by institutional investors.

Alibaba Group Holding Limited (NYSE:BABA) opened at 159.50 on Thursday. The firm has a market cap of $403.53 billion, a PE ratio of 63.12 and a beta of 2.64. The company’s 50 day moving average price is $151.08 and its 200 day moving average price is $123.81. Alibaba Group Holding Limited has a 52-week low of $86.01 and a 52-week high of $160.39. Alibaba Group Holding Limited also was the target of unusually large options trading on Wednesday. Traders bought 85,508 put options on the company. This represents an increase of approximately 228% compared to the typical volume of 26,062 put options.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.44. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter last year, the company posted $0.74 earnings per share. Analysts predict that Alibaba Group Holding Limited will post $4.64 earnings per share for the current fiscal year.

Alibaba Group Holding Limited announced that its Board of Directors has initiated a stock buyback program on Thursday, May 18th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $160.00 target price on shares of Alibaba Group Holding Limited in a research report on Tuesday. SunTrust Banks, Inc. assumed coverage on Alibaba Group Holding Limited in a research report on Tuesday. They set a “buy” rating and a $175.00 target price on the stock. Vetr lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $175.06 target price on the stock. in a research report on Wednesday. BidaskClub raised Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Finally, Barclays PLC boosted their target price on Alibaba Group Holding Limited to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $149.52.

Alibaba Group Holding Limited 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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Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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