Bank of Montreal Can Purchases 552,010 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Bank of Montreal Can increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 92.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,147,636 shares of the specialty retailer's stock after purchasing an additional 552,010 shares during the quarter. Bank of Montreal Can's holdings in Alibaba Group were worth $97,308,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BABA. Norges Bank bought a new position in shares of Alibaba Group during the fourth quarter worth about $585,479,000. Appaloosa LP increased its position in Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after buying an additional 1,843,158 shares during the last quarter. WT Asset Management Ltd increased its holdings in shares of Alibaba Group by 364.4% during the 4th quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer's stock worth $53,774,000 after acquiring an additional 497,623 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of Alibaba Group in the fourth quarter valued at about $42,175,000. Finally, Contrarius Group Holdings Ltd bought a new position in Alibaba Group in the 4th quarter valued at about $33,820,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $3.71 during trading on Friday, reaching $107.89. 40,432,552 shares of the stock traded hands, compared to its average volume of 20,534,833. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $256.26 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 52-week low of $68.36 and a 52-week high of $148.43. The company has a 50-day moving average of $126.59 and a 200-day moving average of $104.64.

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Alibaba Group (NYSE:BABA - Get Free Report) last issued its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. The business had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Robert W. Baird upped their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Barclays lifted their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, February 21st. StockNews.com upgraded Alibaba Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Finally, Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and upped their price target for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $150.36.

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.