Eaton Financial Holdings Company LLC Takes $899,000 Position in Alibaba Group Holding Limited $BABA

Key Points

• Eaton Financial Holdings Company LLC has acquired a new stake in Alibaba Group valued at approximately $899,000 by purchasing 7,929 shares during the second quarter.
• Several institutional investors, including Temasek Holdings and American Century Companies Inc., have also increased their holdings in Alibaba Group, reflecting a growing interest among major investors.
• Analysts have raised their price targets for Alibaba Group, with a consensus target of $168.81, indicating a generally positive outlook for the company's stock.

Eaton Financial Holdings Company LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,929 shares of the specialty retailer's stock, valued at approximately $899,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Temasek Holdings Private Ltd raised its holdings in Alibaba Group by 23.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock valued at $728,633,000 after buying an additional 1,045,789 shares during the period. American Century Companies Inc. raised its holdings in Alibaba Group by 52.1% during the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock valued at $303,215,000 after buying an additional 785,494 shares during the period. Causeway Capital Management LLC raised its holdings in Alibaba Group by 42.6% during the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock valued at $179,305,000 after buying an additional 404,842 shares during the period. WCM Investment Management LLC purchased a new stake in Alibaba Group during the 1st quarter valued at $4,074,000. Finally, KMG Fiduciary Partners LLC purchased a new stake in Alibaba Group during the 1st quarter valued at $1,948,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

BABA opened at $164.21 on Tuesday. The business's 50-day moving average is $130.04 and its two-hundred day moving average is $123.54. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $167.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $391.48 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.11.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BABA shares. Robert W. Baird increased their price target on Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Jefferies Financial Group increased their price target on Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Mizuho increased their target price on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Zacks Research upgraded Alibaba Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Finally, Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $168.81.

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.

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