Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 8,474 shares of the specialty retailer’s stock after acquiring an additional 492 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Alibaba Group were worth $610,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Alibaba Group by 168.6% in the fourth quarter. International Assets Investment Management LLC now owns 10,245 shares of the specialty retailer’s stock valued at $794,000 after buying an additional 6,431 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Alibaba Group by 16.0% during the 4th quarter. Victory Capital Management Inc. now owns 13,785 shares of the specialty retailer’s stock valued at $1,068,000 after acquiring an additional 1,899 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Alibaba Group in the 4th quarter valued at $1,651,000. Panagora Asset Management Inc. increased its stake in shares of Alibaba Group by 5.6% in the fourth quarter. Panagora Asset Management Inc. now owns 42,689 shares of the specialty retailer’s stock worth $3,309,000 after acquiring an additional 2,271 shares during the period. Finally, Financial Advocates Investment Management raised its holdings in shares of Alibaba Group by 11.5% during the fourth quarter. Financial Advocates Investment Management now owns 14,218 shares of the specialty retailer’s stock worth $1,102,000 after purchasing an additional 1,462 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.9 %

BABA stock opened at $84.69 on Friday. The stock has a market capitalization of $214.90 billion, a P/E ratio of 19.74, a P/E/G ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $90.46. The firm has a 50-day simple moving average of $79.86 and a 200-day simple moving average of $77.19. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BABA shares. Robert W. Baird upped their price target on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Sanford C. Bernstein raised their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating 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 research report on Friday, August 16th. Susquehanna lowered their price objective 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. Finally, Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Company 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.