Primecap Management Co. CA Has $2.35 Billion Position in Alibaba Group Holding Limited $BABA

Primecap Management Co. CA grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,764,276 shares of the specialty retailer’s stock after purchasing an additional 140,579 shares during the quarter. Alibaba Group comprises about 1.9% of Primecap Management Co. CA’s portfolio, making the stock its 12th biggest position. Primecap Management Co. CA owned approximately 0.87% of Alibaba Group worth $2,354,877,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BABA. 1248 Management LLC bought a new position in shares of Alibaba Group during the 1st quarter worth approximately $26,000. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC grew its holdings in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Alibaba Group in the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Alibaba Group stock opened at $160.05 on Wednesday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The firm’s fifty day moving average price is $168.49 and its 200-day moving average price is $137.27. The stock has a market cap of $381.89 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Robert W. Baird boosted their price objective on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Citigroup reissued a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. Mizuho set a $195.00 target price on Alibaba Group in a report on Wednesday, October 22nd. Finally, Sanford C. Bernstein raised their price objective on shares of Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.18.

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.