Cibc World Market Inc. Boosts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Cibc World Market Inc. raised its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 11.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,376 shares of the specialty retailer’s stock after purchasing an additional 51,211 shares during the quarter. Cibc World Market Inc.’s holdings in Alibaba Group were worth $42,512,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group during the second quarter worth $27,000. Concord Wealth Partners raised its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 155 shares during the period. Decker Retirement Planning Inc. acquired a new stake in Alibaba Group in the 4th quarter valued at approximately $31,000. Highline Wealth Partners LLC purchased a new position in shares of Alibaba Group during the third quarter worth $36,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Alibaba Group during the 2nd quarter worth about $38,000. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Robert W. Baird boosted their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Barclays dropped their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. StockNews.com lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Finally, Mizuho lifted their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.13.

Alibaba Group Price Performance

Shares of BABA opened at $102.76 on Friday. The firm has a fifty day moving average price of $85.93 and a 200 day moving average price of $88.52. The stock has a market cap of $244.75 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $117.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

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.