Canada Pension Plan Investment Board Has $483.84 Million Stake in Alibaba Group Holding Limited (BABA)

Canada Pension Plan Investment Board boosted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 29.2% during the second quarter, Holdings Channel reports. The firm owned 3,433,906 shares of the specialty retailer’s stock after buying an additional 775,078 shares during the period. Alibaba Group Holding Limited accounts for 1.1% of Canada Pension Plan Investment Board’s portfolio, making the stock its 18th largest position. Canada Pension Plan Investment Board’s holdings in Alibaba Group Holding Limited were worth $483,837,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in BABA. Shine Investment Advisory Services Inc. purchased a new stake in Alibaba Group Holding Limited during the second quarter valued at about $102,000. FNY Managed Accounts LLC purchased a new stake in Alibaba Group Holding Limited during the first quarter valued at about $107,000. Lee Financial Co raised its stake in Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock valued at $113,000 after buying an additional 250 shares during the period. Webster Bank N. A. raised its stake in Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 235 shares during the period. Finally, WFG Advisors LP raised its stake in Alibaba Group Holding Limited by 5.3% in the first quarter. WFG Advisors LP now owns 1,180 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 36.75% of the company’s stock.

Shares of Alibaba Group Holding Limited (NYSE BABA) opened at 157.49 on Thursday. The firm has a market capitalization of $398.45 billion, a PE ratio of 62.32 and a beta of 2.64. Alibaba Group Holding Limited has a 1-year low of $86.01 and a 1-year high of $160.39. The company has a 50-day moving average of $149.30 and a 200-day moving average of $121.89.

Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. During the same quarter in the prior year, the company earned $0.47 earnings per share. Equities research analysts predict that Alibaba Group Holding Limited will post $4.60 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has approved a stock buyback plan on Thursday, May 18th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 target price for the company in a report on Thursday, June 15th. Royal Bank Of Canada restated a “buy” rating and issued a $120.00 target price on shares of Alibaba Group Holding Limited in a report on Tuesday, May 16th. Barclays PLC raised their target price on shares of Alibaba Group Holding Limited from $130.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, May 10th. Bank of America Corporation restated a “buy” rating and issued a $161.00 target price (up previously from $144.00) on shares of Alibaba Group Holding Limited in a report on Sunday, June 11th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $160.00 target price (up previously from $122.00) on shares of Alibaba Group Holding Limited in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. Alibaba Group Holding Limited currently has an average rating of “Buy” and an average price target of $142.21.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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

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