Alibaba Group Holding Ltd (NYSE:BABA) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 5.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,777,064 shares of the specialty retailer’s stock after selling 104,643 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alibaba Group were worth $324,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. increased its stake in Alibaba Group by 5.9% during the first quarter. BlackRock Inc. now owns 71,703,442 shares of the specialty retailer’s stock valued at $13,082,292,000 after acquiring an additional 3,969,960 shares during the period. Baillie Gifford & Co. increased its stake in Alibaba Group by 3.6% during the first quarter. Baillie Gifford & Co. now owns 49,028,056 shares of the specialty retailer’s stock valued at $8,945,169,000 after acquiring an additional 1,716,763 shares during the period. Vanguard Group Inc increased its stake in Alibaba Group by 2.3% during the third quarter. Vanguard Group Inc now owns 37,571,661 shares of the specialty retailer’s stock valued at $6,190,307,000 after acquiring an additional 849,659 shares during the period. FIL Ltd increased its stake in Alibaba Group by 4.9% during the first quarter. FIL Ltd now owns 14,935,906 shares of the specialty retailer’s stock valued at $2,725,056,000 after acquiring an additional 703,227 shares during the period. Finally, Norges Bank bought a new position in Alibaba Group during the fourth quarter valued at about $1,734,020,000. 40.68% of the stock is owned by institutional investors and hedge funds.

BABA has been the topic of several analyst reports. Raymond James lowered their price objective on Alibaba Group from $285.00 to $280.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 16th. Benchmark reiterated a “buy” rating and issued a $220.00 price objective (up from $205.00) on shares of Alibaba Group in a research note on Thursday, May 16th. Robert W. Baird upped their price objective on Alibaba Group from $178.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, March 29th. Zacks Investment Research upgraded Alibaba Group from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, ValuEngine upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $218.39.

NYSE BABA opened at $160.33 on Friday. The company has a market cap of $409.89 billion, a P/E ratio of 44.66, a price-to-earnings-growth ratio of 1.17 and a beta of 2.32. Alibaba Group Holding Ltd has a one year low of $129.77 and a one year high of $211.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.30.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $7.82. The business had revenue of $93.50 billion for the quarter, compared to analyst estimates of $91.68 billion. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. Alibaba Group’s revenue for the quarter was up 51.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.73 EPS. Analysts forecast that Alibaba Group Holding Ltd will post 5.1 earnings per share for the current fiscal year.

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Alibaba Group Company 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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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