61,600 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 61,600 shares of the specialty retailer's stock, valued at approximately $6,537,000. Alibaba Group makes up about 1.9% of BOCHK Asset Management Ltd's investment portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC lifted its stake in shares of Alibaba Group by 154.1% in the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer's stock worth $4,052,000 after buying an additional 33,490 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Alibaba Group by 462.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer's stock worth $12,275,000 after buying an additional 139,134 shares in the last quarter. SRN Advisors LLC lifted its stake in shares of Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer's stock worth $1,611,000 after buying an additional 9,663 shares in the last quarter. Generate Investment Management Ltd acquired a new stake in Alibaba Group during the third quarter worth about $12,656,000. Finally, ORG Partners LLC increased its position in Alibaba Group by 52,685.7% during the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer's stock worth $813,000 after purchasing an additional 11,064 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 1.7 %

Shares of BABA stock traded down $1.65 during trading on Thursday, reaching $96.35. The company's stock had a trading volume of 13,583,067 shares, compared to its average volume of 17,866,604. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $244.49 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 0.55 and a beta of 0.35. The stock's 50-day moving average price is $93.46 and its 200 day moving average price is $82.82. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The firm's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BABA shares. Jefferies Financial Group restated a "buy" rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Benchmark restated a "buy" rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a research report on Friday, August 16th. Morgan Stanley restated an "equal weight" rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Bank of America raised their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $114.00.

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.