Chase Investment Counsel Corp Sells 1,450 Shares of Alibaba Group Holding Ltd (BABA)

Chase Investment Counsel Corp lowered its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 3.1% during the fourth quarter, Holdings Channel reports. The fund owned 46,046 shares of the specialty retailer’s stock after selling 1,450 shares during the quarter. Alibaba Group comprises about 4.2% of Chase Investment Counsel Corp’s portfolio, making the stock its largest holding. Chase Investment Counsel Corp’s holdings in Alibaba Group were worth $7,939,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. WASHINGTON TRUST Co grew its position in shares of Alibaba Group by 1.2% in the 4th quarter. WASHINGTON TRUST Co now owns 176,724 shares of the specialty retailer’s stock valued at $30,472,000 after buying an additional 2,117 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its position in shares of Alibaba Group by 0.6% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 66,590 shares of the specialty retailer’s stock valued at $11,482,000 after buying an additional 415 shares during the last quarter. TrueNorth Inc. grew its position in shares of Alibaba Group by 8.1% in the 4th quarter. TrueNorth Inc. now owns 13,903 shares of the specialty retailer’s stock valued at $2,397,000 after buying an additional 1,038 shares during the last quarter. Main Street Research LLC grew its position in shares of Alibaba Group by 3.0% in the 4th quarter. Main Street Research LLC now owns 72,400 shares of the specialty retailer’s stock valued at $12,484,000 after buying an additional 2,126 shares during the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Alibaba Group in the 4th quarter valued at about $1,164,000. Institutional investors and hedge funds own 37.96% of the company’s stock.

Alibaba Group Holding Ltd (NYSE BABA) opened at $180.30 on Thursday. Alibaba Group Holding Ltd has a 52 week low of $100.11 and a 52 week high of $206.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $474,248.91, a P/E ratio of 50.18, a P/E/G ratio of 1.47 and a beta of 2.58.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.08). Alibaba Group had a return on equity of 17.61% and a net margin of 29.57%. The firm had revenue of $12.76 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same period last year, the company posted $1.30 earnings per share. analysts anticipate that Alibaba Group Holding Ltd will post 4.12 earnings per share for the current year.

A number of research firms have commented on BABA. Stifel Nicolaus reiterated a “buy” rating and issued a $230.00 price target (up previously from $210.00) on shares of Alibaba Group in a research report on Sunday, January 28th. SunTrust Banks upped their price target on Alibaba Group from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Morgan Stanley set a $250.00 price target on Alibaba Group and gave the company a “buy” rating in a research report on Monday, January 29th. KeyCorp upped their price target on Alibaba Group from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Oppenheimer reiterated a “buy” rating and issued a $220.00 price target on shares of Alibaba Group in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $211.40.

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Alibaba Group 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.

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

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