Cigna Investments Inc. New increased its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 2.2% in the 1st quarter, HoldingsChannel reports. The firm owned 39,032 shares of the specialty retailer’s stock after buying an additional 830 shares during the quarter. Alibaba Group makes up 1.0% of Cigna Investments Inc. New’s portfolio, making the stock its 16th largest position. Cigna Investments Inc. New’s holdings in Alibaba Group were worth $7,591,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. raised its position in shares of Alibaba Group by 4.2% during the 4th quarter. Baillie Gifford & Co. now owns 51,700,537 shares of the specialty retailer’s stock worth $10,965,684,000 after purchasing an additional 2,069,139 shares during the last quarter. State Street Corp raised its position in shares of Alibaba Group by 18.7% during the 4th quarter. State Street Corp now owns 35,607,263 shares of the specialty retailer’s stock worth $12,969,965,000 after purchasing an additional 5,605,966 shares during the last quarter. Capital Research Global Investors raised its holdings in Alibaba Group by 3.9% in the 4th quarter. Capital Research Global Investors now owns 28,287,902 shares of the specialty retailer’s stock valued at $5,999,869,000 after acquiring an additional 1,049,252 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Alibaba Group by 12.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 26,753,779 shares of the specialty retailer’s stock valued at $5,674,477,000 after acquiring an additional 2,941,744 shares during the last quarter. Finally, Norges Bank acquired a new position in Alibaba Group in the 4th quarter valued at $5,093,652,000. Hedge funds and other institutional investors own 47.92% of the company’s stock.
Alibaba Group stock traded down $12.46 during trading on Friday, reaching $199.70. 51,903,680 shares of the company’s stock were exchanged, compared to its average volume of 21,330,340. The company’s 50-day moving average is $201.56 and its two-hundred day moving average is $203.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 1.75. Alibaba Group Holding Ltd has a 52-week low of $147.95 and a 52-week high of $231.14. The firm has a market cap of $539.82 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.40 and a beta of 1.60.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, May 22nd. The specialty retailer reported $9.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $8.61. Alibaba Group had a net margin of 34.90% and a return on equity of 15.82%. The firm had revenue of $114.31 billion during the quarter, compared to analysts’ expectations of $108.31 billion. During the same period in the prior year, the company earned $8.57 EPS. The firm’s revenue was up 22.3% on a year-over-year basis. Analysts anticipate that Alibaba Group Holding Ltd will post 5.88 EPS for the current year.
Several brokerages have weighed in on BABA. Argus reiterated a “buy” rating and issued a $260.00 price target on shares of Alibaba Group in a report on Thursday, February 20th. Royal Bank of Canada reiterated a “buy” rating on shares of Alibaba Group in a report on Thursday. UBS Group cut their price target on Alibaba Group from $275.00 to $265.00 and set a “buy” rating for the company in a report on Monday, April 13th. Benchmark reiterated a “buy” rating and issued a $275.00 price target (up from $220.00) on shares of Alibaba Group in a report on Friday, February 14th. They noted that the move was a valuation call. Finally, KeyCorp upped their price objective on Alibaba Group from $248.00 to $255.00 in a report on Sunday, April 19th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alibaba Group has an average rating of “Buy” and a consensus price target of $244.32.
Alibaba Group Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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