Garde Capital Inc. Acquires Shares of 1,030 Alibaba Group Holding Ltd (NYSE:BABA)

Garde Capital Inc. acquired a new stake in Alibaba Group Holding Ltd (NYSE:BABA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,030 shares of the specialty retailer’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JJJ Advisors Inc. raised its holdings in shares of Alibaba Group by 180.0% in the second quarter. JJJ Advisors Inc. now owns 140 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new stake in shares of Alibaba Group in the second quarter valued at about $36,000. Hoey Investments Inc. purchased a new position in Alibaba Group during the second quarter worth about $38,000. Proffitt & Goodson Inc. raised its holdings in Alibaba Group by 99.2% during the second quarter. Proffitt & Goodson Inc. now owns 239 shares of the specialty retailer’s stock worth $52,000 after purchasing an additional 119 shares in the last quarter. Finally, AGF Investments America Inc. purchased a new position in Alibaba Group during the first quarter worth about $47,000. Institutional investors own 46.02% of the company’s stock.

NYSE BABA traded up $0.18 during mid-day trading on Wednesday, reaching $278.14. 9,578,342 shares of the stock were exchanged, compared to its average volume of 17,353,467. Alibaba Group Holding Ltd has a 1-year low of $161.68 and a 1-year high of $299.00. The business’s fifty day simple moving average is $267.17 and its 200 day simple moving average is $225.32. The stock has a market capitalization of $752.06 billion, a PE ratio of 29.95, a PEG ratio of 2.13 and a beta of 1.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.98 and a current ratio of 1.98.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $13.28. Alibaba Group had a net margin of 31.96% and a return on equity of 14.13%. The firm had revenue of $153.75 billion for the quarter, compared to analyst estimates of $147.30 billion. During the same quarter last year, the business earned $12.55 earnings per share. Alibaba Group’s revenue was up 33.8% compared to the same quarter last year. On average, analysts anticipate that Alibaba Group Holding Ltd will post 7.48 EPS for the current year.

Several research analysts recently issued reports on BABA shares. Susquehanna Bancshares increased their price target on shares of Alibaba Group from $275.00 to $350.00 in a report on Monday, August 24th. Cfra cut their price target on shares of Alibaba Group from $222.00 to $216.00 and set a “hold” rating for the company in a report on Tuesday, May 26th. Needham & Company LLC reissued a “buy” rating and set a $275.00 price target on shares of Alibaba Group in a report on Friday, August 21st. Oppenheimer reaffirmed a “buy” rating and issued a $290.00 target price on shares of Alibaba Group in a report on Tuesday. Finally, Truist increased their target price on shares of Alibaba Group from $240.00 to $242.00 and gave the company a “buy” rating in a report on Monday, August 17th. Three investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Alibaba Group presently has an average rating of “Buy” and an average target price of $269.99.

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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