Lido Advisors LLC lessened its holdings in Alibaba Group Holding Ltd (NYSE:BABA) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,676 shares of the specialty retailer’s stock after selling 331 shares during the period. Lido Advisors LLC’s holdings in Alibaba Group were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Farmers National Bank acquired a new stake in Alibaba Group in the first quarter valued at approximately $25,000. Cribstone Capital Management LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $27,000. Manchester Capital Management LLC grew its stake in Alibaba Group by 171.4% in the first quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Archford Capital Strategies LLC grew its stake in Alibaba Group by 80.4% in the fourth quarter. Archford Capital Strategies LLC now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 82 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 40.68% of the company’s stock.
BABA has been the topic of several analyst reports. Raymond James cut their target price on Alibaba Group from $285.00 to $280.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 16th. Benchmark reaffirmed a “buy” rating and set a $220.00 target price (up previously from $205.00) on shares of Alibaba Group in a research report on Thursday, May 16th. Robert W. Baird lifted their target price on Alibaba Group from $178.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, March 29th. Macquarie set a $226.00 target price on Alibaba Group and gave the company a “buy” rating in a research report on Wednesday, June 19th. Finally, Zacks Investment Research raised Alibaba Group from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Alibaba Group currently has an average rating of “Buy” and a consensus target price of $217.30.
Alibaba Group (NYSE:BABA) last released its earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion for the quarter, compared to analysts’ expectations of $91.68 billion. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. Alibaba Group’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter last year, the company earned $5.73 EPS. On average, analysts expect that Alibaba Group Holding Ltd will post 5.1 earnings per share for the current fiscal year.
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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