Primecap Management Co. CA Has $2.33 Billion Position in Alibaba Group Holding Limited (NYSE:BABA)

Primecap Management Co. CA boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,917,552 shares of the specialty retailer’s stock after acquiring an additional 46,565 shares during the quarter. Alibaba Group accounts for about 1.7% of Primecap Management Co. CA’s investment portfolio, making the stock its 14th biggest position. Primecap Management Co. CA owned about 0.92% of Alibaba Group worth $2,325,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BABA. Acadian Asset Management LLC acquired a new stake in shares of Alibaba Group in the 1st quarter valued at $312,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Alibaba Group in the first quarter valued at approximately $87,000. CreativeOne Wealth LLC acquired a new position in shares of Alibaba Group in the 1st quarter worth approximately $853,000. Finally, Advisors Asset Management Inc. grew its position in Alibaba Group by 17.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,387 shares of the specialty retailer’s stock worth $245,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.4 %

Shares of NYSE BABA opened at $86.77 on Thursday. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $207.76 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.39 and a beta of 0.35. The firm has a 50 day moving average price of $98.45 and a 200 day moving average price of $85.82.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on BABA. Sanford C. Bernstein boosted their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Bank of America upped their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird raised their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Barclays lowered their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.07.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.