QCI Asset Management Inc. NY Sells 75 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

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QCI Asset Management Inc. NY lowered its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 30.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175 shares of the specialty retailer’s stock after selling 75 shares during the period. QCI Asset Management Inc. NY’s holdings in Alibaba Group were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Alibaba Group by 9.5% in the 2nd quarter. BlackRock Inc. now owns 78,533,960 shares of the specialty retailer’s stock valued at $13,307,578,000 after acquiring an additional 6,830,518 shares during the last quarter. Schroder Investment Management Group raised its position in Alibaba Group by 7.5% during the 2nd quarter. Schroder Investment Management Group now owns 24,523,571 shares of the specialty retailer’s stock valued at $4,155,519,000 after purchasing an additional 1,711,439 shares during the last quarter. FMR LLC raised its position in Alibaba Group by 11.0% during the 1st quarter. FMR LLC now owns 20,955,847 shares of the specialty retailer’s stock valued at $3,823,395,000 after purchasing an additional 2,070,115 shares during the last quarter. FIL Ltd raised its position in Alibaba Group by 4.9% during the 1st quarter. FIL Ltd now owns 14,935,906 shares of the specialty retailer’s stock valued at $2,725,056,000 after purchasing an additional 703,227 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Alibaba Group by 0.5% during the 2nd quarter. Jennison Associates LLC now owns 13,785,493 shares of the specialty retailer’s stock valued at $2,335,952,000 after purchasing an additional 63,523 shares during the last quarter. 43.42% of the stock is owned by institutional investors.

Shares of BABA stock traded down $1.18 during midday trading on Wednesday, reaching $177.82. 1,514,016 shares of the stock were exchanged, compared to its average volume of 10,163,822. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The firm has a market cap of $455.88 billion, a PE ratio of 49.53, a price-to-earnings-growth ratio of 1.10 and a beta of 2.28. The company’s 50 day moving average is $170.03 and its two-hundred day moving average is $173.21. Alibaba Group Holding Ltd has a 1 year low of $129.77 and a 1 year high of $195.72.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.32. The company had revenue of $114.92 billion for the quarter, compared to the consensus estimate of $111.65 billion. Alibaba Group had a return on equity of 14.36% and a net margin of 24.40%. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. As a group, equities analysts expect that Alibaba Group Holding Ltd will post 5.81 EPS for the current fiscal year.

A number of research firms have commented on BABA. Loop Capital began coverage on Alibaba Group in a research report on Monday, June 3rd. They set a “buy” rating and a $250.00 price target for the company. Jefferies Financial Group began coverage on Alibaba Group in a research report on Monday, August 5th. They set a “buy” rating and a $216.00 price target for the company. Royal Bank of Canada set a $210.00 price target on Alibaba Group and gave the company a “buy” rating in a research report on Monday, August 12th. SunTrust Banks reaffirmed a “positive” rating and set a $210.00 price target (up previously from $205.00) on shares of Alibaba Group in a research report on Thursday, August 15th. Finally, Morgan Stanley set a $207.00 price target on Alibaba Group and gave the company a “buy” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $219.92.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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

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