Primecap Management Co. CA Has $2.33 Billion Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Primecap Management Co. CA raised its position in Alibaba Group Holding Limited (NYSE:BABA) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,917,552 shares of the specialty retailer’s stock after purchasing an additional 46,565 shares during the quarter. Alibaba Group accounts for approximately 1.7% of Primecap Management Co. CA’s holdings, making the stock its 14th largest holding. Primecap Management Co. CA’s holdings in Alibaba Group were worth $2,325,891,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JW Asset Management LLC acquired a new position in Alibaba Group during the third quarter worth $1,592,000. Advisors Asset Management Inc. lifted its position in Alibaba Group by 16.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,338 shares of the specialty retailer’s stock worth $460,000 after buying an additional 614 shares in the last quarter. Gemsstock Ltd. acquired a new position in shares of Alibaba Group during the 3rd quarter worth about $16,746,000. West Family Investments Inc. grew its holdings in shares of Alibaba Group by 22.5% in the 3rd quarter. West Family Investments Inc. now owns 5,451 shares of the specialty retailer’s stock valued at $578,000 after acquiring an additional 1,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Alibaba Group by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 42,886 shares of the specialty retailer’s stock valued at $4,551,000 after acquiring an additional 845 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

NYSE:BABA opened at $86.77 on Thursday. 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 firm has a market cap of $207.76 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 0.39 and a beta of 0.35. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The firm’s 50-day simple moving average is $98.45 and its 200 day simple moving average is $85.82.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.23% and a net margin of 8.98%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on BABA. Mizuho raised their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. 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. Bank of America lifted their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Truist Financial dropped their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

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.