Bank of America Corp DE Raises Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Bank of America Corp DE grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,676,773 shares of the specialty retailer's stock after buying an additional 438,537 shares during the period. Bank of America Corp DE owned approximately 0.28% of Alibaba Group worth $566,124,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Decker Retirement Planning Inc. purchased a new position in Alibaba Group during the fourth quarter worth about $31,000. Sierra Ocean LLC bought a new stake in Alibaba Group during the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL boosted its stake in Alibaba Group by 59.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock worth $46,000 after purchasing an additional 200 shares during the period. Redwood Park Advisors LLC purchased a new stake in shares of Alibaba Group in the fourth quarter worth about $52,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Alibaba Group during the 4th quarter valued at $55,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 0.4 %

Alibaba Group stock traded down $0.47 during trading on Friday, reaching $125.32. 10,516,326 shares of the company were exchanged, compared to its average volume of 20,543,863. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock's 50 day simple moving average is $124.45 and its two-hundred day simple moving average is $105.98. The company has a market capitalization of $299.25 billion, a P/E ratio of 18.11, a PEG ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 52-week low of $71.80 and a 52-week high of $148.43.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. On average, equities research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com upgraded Alibaba Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Benchmark upped their price target on Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Bank of America increased their target price on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Morgan Stanley upgraded shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $100.00 to $180.00 in a research note on Monday, February 24th. Fourteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $150.36.

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.