Baltimore Washington Financial Advisors Inc. Invests $5.02 Million in Alibaba Group Holding Limited (NYSE:BABA)

Baltimore Washington Financial Advisors Inc. bought a new position in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,646 shares of the specialty retailer’s stock, valued at approximately $5,022,000.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock worth $6,145,123,000 after buying an additional 54,829,289 shares during the period. Schroder Investment Management Group raised its position in Alibaba Group Holding Limited by 3.3% in the first quarter. Schroder Investment Management Group now owns 24,415,309 shares of the specialty retailer’s stock worth $2,657,606,000 after buying an additional 776,232 shares in the last quarter. OppenheimerFunds Inc. raised its position in Alibaba Group Holding Limited by 10.4% in the first quarter. OppenheimerFunds Inc. now owns 21,635,868 shares of the specialty retailer’s stock worth $2,332,996,000 after buying an additional 2,030,747 shares in the last quarter. State Street Corp raised its position in Alibaba Group Holding Limited by 1.8% in the first quarter. State Street Corp now owns 18,826,837 shares of the specialty retailer’s stock worth $2,030,102,000 after buying an additional 329,969 shares in the last quarter. Finally, FMR LLC raised its position in Alibaba Group Holding Limited by 3.8% in the first quarter. FMR LLC now owns 17,733,916 shares of the specialty retailer’s stock worth $1,912,249,000 after buying an additional 642,778 shares in the last quarter. Institutional investors and hedge funds own 36.75% of the company’s stock.

Alibaba Group Holding Limited (NYSE BABA) traded down 0.05% during mid-day trading on Friday, hitting $151.70. The stock had a trading volume of 22,327,427 shares. The firm’s 50-day moving average is $149.81 and its 200 day moving average is $122.49. The stock has a market cap of $383.80 billion, a PE ratio of 60.03 and a beta of 2.64. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $160.39.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.01. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.26 billion. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities research analysts expect that Alibaba Group Holding Limited will post $4.64 EPS for the current year.

Alibaba Group Holding Limited announced that its board has initiated a stock repurchase program on Thursday, May 18th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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A number of equities analysts recently issued reports on BABA shares. CIBC raised their price target on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, May 23rd. JPMorgan Chase & Co. started coverage on Alibaba Group Holding Limited in a report on Tuesday, June 27th. They set an “overweight” rating and a $190.00 price target on the stock. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a report on Monday, May 22nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $135.00 price objective (up previously from $116.00) on shares of Alibaba Group Holding Limited in a report on Friday, May 19th. Finally, Needham & Company LLC lifted their price objective on Alibaba Group Holding Limited from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have assigned a buy rating and three have given a strong buy rating to the company. Alibaba Group Holding Limited currently has a consensus rating of “Buy” and a consensus target price of $142.21.

Alibaba Group Holding Limited Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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

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