Fiduciary Trust Co. increased its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 7.4% during the second quarter, Holdings Channel reports. The fund owned 4,250 shares of the specialty retailer’s stock after purchasing an additional 294 shares during the period. Fiduciary Trust Co.’s holdings in Alibaba Group were worth $789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Sei Investments Co. grew its holdings in Alibaba Group by 15.0% in the 2nd quarter. Sei Investments Co. now owns 1,410,460 shares of the specialty retailer’s stock valued at $261,683,000 after buying an additional 183,807 shares during the last quarter. Meridian Management Co. acquired a new stake in Alibaba Group in the 2nd quarter valued at approximately $2,375,000. LLBH Private Wealth Management LLC acquired a new stake in Alibaba Group in the 2nd quarter valued at approximately $521,000. Well Done LLC grew its holdings in Alibaba Group by 35.0% in the 2nd quarter. Well Done LLC now owns 1,708 shares of the specialty retailer’s stock valued at $316,000 after buying an additional 443 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in Alibaba Group by 5.7% in the 2nd quarter. Financial Counselors Inc. now owns 13,318 shares of the specialty retailer’s stock valued at $2,471,000 after buying an additional 721 shares during the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group stock opened at $180.01 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.27. The company has a market cap of $454.66 billion, a P/E ratio of 44.67, a P/E/G ratio of 1.14 and a beta of 2.49. Alibaba Group Holding Ltd has a one year low of $147.50 and a one year high of $211.70.

A number of analysts have issued reports on the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alibaba Group in a report on Wednesday, July 11th. Zacks Investment Research lowered Alibaba Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $305.00 target price on shares of Alibaba Group in a report on Monday, July 9th. KeyCorp raised Alibaba Group to a “buy” rating and set a $235.00 target price on the stock in a report on Monday, July 9th. Finally, ValuEngine downgraded Alibaba Group from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $231.18.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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

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