Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by AMF Tjanstepension AB

AMF Tjanstepension AB raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,789,883 shares of the specialty retailer’s stock after acquiring an additional 178,999 shares during the period. Alibaba Group accounts for about 2.1% of AMF Tjanstepension AB’s holdings, making the stock its 12th biggest position. AMF Tjanstepension AB owned 0.11% of Alibaba Group worth $296,062,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Primecap Management Co. CA increased its holdings in shares of Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. FIL Ltd increased its holdings in shares of Alibaba Group by 10.2% during the 4th quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock worth $823,986,000 after buying an additional 983,842 shares during the last quarter. H&H International Investment LLC increased its holdings in shares of Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after buying an additional 1,918,730 shares during the last quarter. ARGA Investment Management LP increased its holdings in shares of Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after buying an additional 1,009,397 shares during the last quarter. Finally, Discerene Group LP increased its holdings in shares of Alibaba Group by 21.2% during the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock worth $218,627,000 after buying an additional 529,237 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Sanford C. Bernstein upped their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Truist Financial lowered their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Stock Performance

Shares of BABA stock opened at $115.24 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $116.57. The company’s 50-day simple moving average is $85.09 and its 200-day simple moving average is $79.27. The stock has a market capitalization of $292.42 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.46 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last issued its earnings results 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 analysts’ expectations of $248.32 billion. During the same quarter last year, the company posted $2.47 earnings per share. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

About Alibaba Group

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.