First Trust Bank Ltd. held its position in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,500 shares of the specialty retailer’s stock at the end of the second quarter. Alibaba Group Holding Limited comprises about 3.1% of First Trust Bank Ltd.’s investment portfolio, making the stock its 7th largest position. First Trust Bank Ltd.’s holdings in Alibaba Group Holding Limited were worth $775,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of Alibaba Group Holding Limited by 0.9% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 2,563 shares of the specialty retailer’s stock worth $276,000 after acquiring an additional 23 shares during the last quarter. Ronald Blue & Co. LLC boosted its stake in shares of Alibaba Group Holding Limited by 0.7% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,458 shares of the specialty retailer’s stock valued at $487,000 after purchasing an additional 25 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Alibaba Group Holding Limited by 1.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,259 shares of the specialty retailer’s stock valued at $318,000 after purchasing an additional 30 shares in the last quarter. Comerica Securities Inc. boosted its stake in shares of Alibaba Group Holding Limited by 1.9% in the 1st quarter. Comerica Securities Inc. now owns 2,527 shares of the specialty retailer’s stock valued at $272,000 after purchasing an additional 47 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in shares of Alibaba Group Holding Limited by 2.9% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,852 shares of the specialty retailer’s stock valued at $261,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 37.39% of the company’s stock.

A number of research firms recently issued reports on BABA. Robert W. Baird upped their price objective on shares of Alibaba Group Holding Limited from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 18th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $208.00 target price (up previously from $200.00) on shares of Alibaba Group Holding Limited in a research report on Sunday, August 20th. J P Morgan Chase & Co assumed coverage on shares of Alibaba Group Holding Limited in a research report on Tuesday, June 27th. They issued an “overweight” rating and a $190.00 target price on the stock. Oppenheimer Holdings, Inc. boosted their target price on shares of Alibaba Group Holding Limited to $200.00 and gave the stock an “outperform” rating in a research note on Sunday, September 3rd. Finally, Vetr raised shares of Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $173.25 target price on the stock in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirty-two have issued a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $174.24.

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 0.60% during mid-day trading on Monday, hitting $173.75. The stock had a trading volume of 5,342,646 shares. The firm has a market cap of $441.85 billion, a PE ratio of 57.67 and a beta of 2.61. Alibaba Group Holding Limited has a 52-week low of $86.01 and a 52-week high of $180.87. The stock’s 50-day moving average price is $166.56 and its 200-day moving average price is $135.68.

Alibaba Group Holding Limited (NYSE:BABA) last announced its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.21. The firm had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. During the same quarter in the previous year, the business posted $0.74 EPS. On average, analysts anticipate that Alibaba Group Holding Limited will post $4.96 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Alibaba Group Holding Limited (BABA) Position Held by First Trust Bank Ltd.” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/10/02/alibaba-group-holding-limited-baba-position-held-by-first-trust-bank-ltd.html.

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.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA).

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

Receive News & Stock Ratings for Alibaba Group Holding Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group Holding Limited and related stocks with our FREE daily email newsletter.