Sterling Investment Management LLC Has $2.80 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Sterling Investment Management LLC lifted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 47.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,375 shares of the specialty retailer’s stock after purchasing an additional 8,490 shares during the period. Alibaba Group accounts for 2.1% of Sterling Investment Management LLC’s portfolio, making the stock its 15th largest position. Sterling Investment Management LLC’s holdings in Alibaba Group were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB raised its position in shares of Alibaba Group by 79.5% during the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after acquiring an additional 1,156,479 shares during the last quarter. Marshall Wace LLP boosted its stake in Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after purchasing an additional 1,130,643 shares during the period. Renaissance Technologies LLC raised its stake in shares of Alibaba Group by 523.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after purchasing an additional 1,121,500 shares during the period. Primecap Management Co. CA boosted its position in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the period. Finally, ARGA Investment Management LP boosted its position in Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after acquiring an additional 1,009,397 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BABA. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Truist Financial lowered their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Loop Capital reissued a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $112.63.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $102.43 on Monday. The company has a 50 day moving average of $92.30 and a 200-day moving average of $82.31. The company has a market cap of $259.92 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year 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 analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the previous year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Alibaba Group Company 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.