State of New Jersey Common Pension Fund D Buys 2,309 Shares of Alibaba Group Holding Limited (NYSE:BABA)

State of New Jersey Common Pension Fund D grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.7% during the second quarter, HoldingsChannel reports. The firm owned 65,439 shares of the specialty retailer’s stock after purchasing an additional 2,309 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Alibaba Group were worth $4,712,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BABA. Primecap Management Co. CA raised its holdings in Alibaba Group by 5.1% in the fourth quarter. Primecap Management Co. CA now owns 18,224,982 shares of the specialty retailer’s stock worth $1,412,618,000 after buying an additional 881,710 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Alibaba Group by 5.4% in the fourth quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer’s stock worth $1,228,398,000 after acquiring an additional 819,019 shares during the period. FIL Ltd grew its stake in shares of Alibaba Group by 10.2% in the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock worth $823,986,000 after acquiring an additional 983,842 shares during the period. H&H International Investment LLC grew its stake in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after acquiring an additional 1,918,730 shares during the period. Finally, Norges Bank bought a new stake in shares of Alibaba Group in the fourth quarter worth approximately $329,367,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 1.3 %

NYSE BABA opened at $83.61 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $212.16 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company’s 50-day simple moving average is $80.07 and its two-hundred day simple moving average is $77.28. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $90.46.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the previous year, the firm earned $2.47 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Ratings Changes

BABA has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Susquehanna cut their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Company Profile

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.