Procyon Advisors LLC Buys 413 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Procyon Advisors LLC raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,527 shares of the specialty retailer’s stock after buying an additional 413 shares during the period. Procyon Advisors LLC’s holdings in Alibaba Group were worth $2,178,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Alliance LLC lifted its stake in shares of Alibaba Group by 154.1% in the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after purchasing an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after purchasing an additional 139,134 shares during the period. SRN Advisors LLC lifted its stake in shares of Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares during the period. ORG Partners LLC lifted its stake in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after purchasing an additional 11,064 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of Alibaba Group by 6.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BABA shares. Robert W. Baird boosted their price objective on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Bank of America upped their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein upped their price target 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

Alibaba Group Stock Performance

BABA stock opened at $107.81 on Tuesday. The firm has a market cap of $273.57 billion, a PE ratio of 25.13, a P/E/G ratio of 0.55 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $90.49 and a 200-day moving average of $81.49. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 earnings per share. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Alibaba Group Profile

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.