Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,504 shares of the specialty retailer’s stock after purchasing an additional 6,671 shares during the period. Truist Financial Corp’s holdings in Alibaba Group were worth $20,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. H&H International Investment LLC raised its position 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 purchasing an additional 1,918,730 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of Alibaba Group by 79.5% during the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after acquiring an additional 1,156,479 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Alibaba Group by 384.2% in the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after acquiring an additional 1,130,643 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Down 2.1 %

Shares of NYSE BABA opened at $112.83 on Friday. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $116.57. The business’s 50 day moving average is $85.84 and its two-hundred day moving average is $79.51. The firm has a market cap of $286.31 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 0.46 and a beta of 0.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Loop Capital reiterated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Robert W. Baird upped their target price on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

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.