Mediolanum International Funds Ltd Sells 3,571 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Mediolanum International Funds Ltd lessened its position in Alibaba Group Holding Limited (NYSE:BABA) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,333 shares of the specialty retailer’s stock after selling 3,571 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Alibaba Group were worth $15,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BABA. Fiduciary Alliance LLC boosted its stake in shares of Alibaba Group by 154.1% in the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after purchasing an additional 33,490 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after buying an additional 139,134 shares during the period. Generate Investment Management Ltd purchased a new position in shares of Alibaba Group in the third quarter worth about $12,656,000. SRN Advisors LLC lifted its stake in shares of Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after acquiring an additional 9,663 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in Alibaba Group by 52,685.7% during the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after acquiring an additional 11,064 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays boosted their price objective on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Susquehanna decreased their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Bank of America raised their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein lifted their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Alibaba Group Stock Up 2.1 %

Shares of Alibaba Group stock traded up $2.07 during trading on Friday, hitting $98.43. The company’s stock had a trading volume of 5,299,891 shares, compared to its average volume of 17,806,684. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a fifty day simple moving average of $93.79 and a two-hundred day simple moving average of $82.91. The company has a market capitalization of $249.77 billion, a PE ratio of 22.90, a P/E/G ratio of 0.55 and a beta of 0.35.

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