Cypress Asset Management Inc. TX Purchases 1,035 Shares of Alibaba Group Holding Ltd (BABA)

Cypress Asset Management Inc. TX raised its position in Alibaba Group Holding Ltd (NYSE:BABA) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,520 shares of the specialty retailer’s stock after purchasing an additional 1,035 shares during the period. Cypress Asset Management Inc. TX’s holdings in Alibaba Group were worth $1,404,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BABA. Hillhouse Capital Management Ltd. lifted its holdings in Alibaba Group by 318.7% in the 2nd quarter. Hillhouse Capital Management Ltd. now owns 6,508,438 shares of the specialty retailer’s stock valued at $1,207,511,000 after purchasing an additional 4,954,118 shares in the last quarter. Bank of America Corp DE lifted its holdings in Alibaba Group by 32.9% in the 2nd quarter. Bank of America Corp DE now owns 10,608,066 shares of the specialty retailer’s stock valued at $1,968,114,000 after purchasing an additional 2,626,882 shares in the last quarter. BlackRock Inc. lifted its holdings in Alibaba Group by 3.4% in the 2nd quarter. BlackRock Inc. now owns 63,108,387 shares of the specialty retailer’s stock valued at $11,708,501,000 after purchasing an additional 2,077,793 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Alibaba Group by 20,210.4% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,532,621 shares of the specialty retailer’s stock valued at $8,224,000 after purchasing an additional 1,525,075 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Alibaba Group by 8.4% in the 2nd quarter. Morgan Stanley now owns 15,970,499 shares of the specialty retailer’s stock valued at $2,963,007,000 after purchasing an additional 1,235,562 shares in the last quarter. Institutional investors own 38.67% of the company’s stock.

A number of research analysts have issued reports on BABA shares. Wells Fargo & Co restated a “buy” rating on shares of Alibaba Group in a report on Wednesday, July 11th. UBS Group set a $245.00 target price on shares of Alibaba Group and gave the company a “buy” rating in a report on Friday, August 24th. Nomura reduced their target price on shares of Alibaba Group from $231.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, August 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $256.00 price objective on shares of Alibaba Group in a research note on Thursday, August 23rd. Finally, MED dropped their price objective on shares of Alibaba Group to $196.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $222.48.

BABA opened at $142.93 on Friday. The company has a market cap of $379.41 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 1.15 and a beta of 2.41. Alibaba Group Holding Ltd has a 1 year low of $135.14 and a 1 year high of $211.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 1.44.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 23rd. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). The business had revenue of $12.23 billion for the quarter, compared to analyst estimates of $12.25 billion. Alibaba Group had a return on equity of 14.18% and a net margin of 20.57%. On average, analysts expect that Alibaba Group Holding Ltd will post 3.72 earnings per share for the current year.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Read More: Discount Rate

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Ltd (NYSE:BABA).

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

Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply