Byrne Asset Management LLC Increases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Byrne Asset Management LLC boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 28.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,547 shares of the specialty retailer’s stock after purchasing an additional 570 shares during the period. Byrne Asset Management LLC’s holdings in Alibaba Group were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Concord Wealth Partners increased its position in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 155 shares during the period. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group during the 4th quarter valued at about $31,000. Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group in the third quarter valued at about $36,000. Assetmark Inc. raised its stake in shares of Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 275 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of Alibaba Group during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BABA. Barclays decreased their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Citigroup boosted their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Robert W. Baird raised their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Stock Up 3.3 %

BABA opened at $103.71 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $117.82. The company has a market cap of $246.69 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 0.42 and a beta of 0.31. The company has a 50-day moving average price of $87.72 and a 200 day moving average price of $89.41.

Alibaba Group (NYSE:BABA) last announced its earnings results 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 return on equity of 12.28% and a net margin of 8.98%. 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 firm earned $1.82 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

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.