Dearborn Partners LLC Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Dearborn Partners LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 2,130 shares of the specialty retailer’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after acquiring an additional 5,715,155 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Alibaba Group by 9,205.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after purchasing an additional 1,679,117 shares during the last quarter. AMF Tjanstepension AB increased its position in shares of Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after purchasing an additional 1,156,479 shares in the last quarter. Marshall Wace LLP lifted its holdings in Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 2.2 %

Shares of Alibaba Group stock opened at $88.57 on Friday. The firm’s 50 day moving average is $98.04 and its 200 day moving average is $85.47. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $212.07 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 0.41 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 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BABA has been the subject of a number of research analyst reports. Susquehanna cut their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday. Truist Financial decreased their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $114.53.

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.