DAVENPORT & Co LLC Buys 12,429 Shares of Alibaba Group Holding Limited (NYSE:BABA)

DAVENPORT & Co LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 278.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,898 shares of the specialty retailer’s stock after acquiring an additional 12,429 shares during the quarter. DAVENPORT & Co LLC’s holdings in Alibaba Group were worth $1,433,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BABA. Concord Wealth Partners grew its holdings in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group during the 3rd quarter worth $36,000. Decker Retirement Planning Inc. acquired a new position in Alibaba Group in the 4th quarter valued at $31,000. Assetmark Inc. raised its holdings in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 275 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in Alibaba Group during the 4th quarter worth $55,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA stock opened at $99.30 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $236.21 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 0.42 and a beta of 0.31. The firm’s 50 day moving average is $87.19 and its 200-day moving average is $89.26. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $117.82.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.82 EPS. Sell-side analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BABA shares. Citigroup lifted their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Mizuho lifted their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America increased their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Finally, Robert W. Baird upped their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group 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.