M&T Bank Corp decreased its holdings in Alibaba Group Holding Ltd (NYSE:BABA) by 5.8% during the 4th quarter, HoldingsChannel reports. The fund owned 77,487 shares of the specialty retailer’s stock after selling 4,795 shares during the quarter. M&T Bank Corp’s holdings in Alibaba Group were worth $10,621,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Palo Capital Inc. acquired a new stake in Alibaba Group during the third quarter valued at approximately $171,000. Kistler Tiffany Companies LLC grew its holdings in Alibaba Group by 10.9% in the 4th quarter. Kistler Tiffany Companies LLC now owns 5,480 shares of the specialty retailer’s stock worth $751,000 after buying an additional 538 shares in the last quarter. Crestline Management LP bought a new position in Alibaba Group in the 3rd quarter worth approximately $2,142,000. CWM LLC grew its holdings in Alibaba Group by 37.9% in the 3rd quarter. CWM LLC now owns 23,426 shares of the specialty retailer’s stock worth $3,860,000 after buying an additional 6,441 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in Alibaba Group by 14.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 7,879 shares of the specialty retailer’s stock worth $1,298,000 after buying an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 38.77% of the company’s stock.
A number of equities analysts recently issued reports on BABA shares. Morgan Stanley set a $196.00 price objective on Alibaba Group and gave the stock a “buy” rating in a report on Monday, November 5th. Benchmark decreased their price target on Alibaba Group from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, November 5th. UBS Group decreased their price target on Alibaba Group from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Barclays set a $195.00 price target on Alibaba Group and gave the company a “buy” rating in a research note on Sunday, November 4th. Finally, SunTrust Banks decreased their price target on Alibaba Group from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group has a consensus rating of “Buy” and a consensus target price of $211.09.
Shares of NYSE:BABA opened at $167.36 on Monday. The stock has a market capitalization of $428.63 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 1.63 and a beta of 2.31. Alibaba Group Holding Ltd has a 52-week low of $129.77 and a 52-week high of $211.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.25.
Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Wednesday, January 30th. The specialty retailer reported $12.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $10.83. The company had revenue of $117.28 billion for the quarter, compared to the consensus estimate of $118.52 billion. Alibaba Group had a return on equity of 12.44% and a net margin of 19.87%. The firm’s revenue was up 41.3% compared to the same quarter last year. During the same period last year, the business posted $1.63 earnings per share. On average, sell-side analysts predict that Alibaba Group Holding Ltd will post 3.65 earnings per share for the current year.
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About Alibaba Group
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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