Today The Ballentine Partners LLC Increases Stake in Alibaba Group Holding Limited (BABA)

Today The Ballentine Partners LLC Increases Stake in Alibaba Group Holding Limited (BABA)

Ballentine Partners LLC boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 99.6% during the third quarter, Holdings Channel reports. The fund owned 62,490 shares of the company’s stock after buying an additional 31,189 shares during the period. Alibaba Group Holding Limited makes up about 0.5% of Ballentine Partners LLC’s investment portfolio, making the stock its 22nd largest position. Ballentine Partners LLC’s holdings in Alibaba Group Holding Limited were worth $6,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Equitec Proprietary Markets LLC bought a new position in shares of Alibaba Group Holding Limited during the third quarter worth $148,000. Cornerstone Advisors Inc. boosted its position in shares of Alibaba Group Holding Limited by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock worth $127,000 after buying an additional 39 shares in the last quarter. Bank of The West bought a new position in shares of Alibaba Group Holding Limited during the third quarter worth $219,000. Grassi Investment Management bought a new position in shares of Alibaba Group Holding Limited during the third quarter worth $222,000. Finally, BTC Capital Management Inc. bought a new position in shares of Alibaba Group Holding Limited during the third quarter worth $232,000. 34.80% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Holding Limited (NYSE:BABA) traded up 2.016% during mid-day trading on Wednesday, hitting $103.475. The stock had a trading volume of 9,333,134 shares. The firm has a market capitalization of $256.41 billion, a price-to-earnings ratio of 55.305 and a beta of 2.68. Alibaba Group Holding Limited has a one year low of $59.25 and a one year high of $109.87. The stock’s 50 day moving average price is $92.25 and its 200 day moving average price is $95.14.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Tuesday, January 24th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.13 by $0.17. Alibaba Group Holding Limited had a return on equity of 13.29% and a net margin of 26.44%. The firm earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. Analysts forecast that Alibaba Group Holding Limited will post $3.26 EPS for the current year.

A number of equities analysts recently weighed in on BABA shares. MKM Partners reissued a “buy” rating and issued a $130.00 price target on shares of Alibaba Group Holding Limited in a research note on Tuesday, September 27th. Morgan Stanley reissued an “overweight” rating and issued a $132.00 price target on shares of Alibaba Group Holding Limited in a research note on Tuesday, September 27th. Daiwa Capital Markets lifted their price target on Alibaba Group Holding Limited from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Deutsche Bank AG lifted their price target on Alibaba Group Holding Limited from $109.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, September 29th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $138.00 price target on shares of Alibaba Group Holding Limited in a research note on Thursday, September 29th. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $119.05.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.

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