Taikang Asset Management Hong Kong Co Ltd Acquires 10,000 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Alibaba Group by 7.7%, acquiring an additional 10,000 shares, bringing its total holdings to 140,000 shares valued at approximately $18.5 million.
• Several institutional investors, including Northern Trust Corp and Brighton Jones LLC, have also significantly increased their positions in Alibaba, which reflects growing interest among hedge funds.
• Analyst ratings for Alibaba show a predominance of positive outlooks, with a consensus rating of "Moderate Buy" and an average price target of $159.67.

Taikang Asset Management Hong Kong Co Ltd grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 7.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,000 shares of the specialty retailer's stock after buying an additional 10,000 shares during the period. Alibaba Group accounts for about 2.5% of Taikang Asset Management Hong Kong Co Ltd's holdings, making the stock its 10th largest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Alibaba Group were worth $18,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 981 shares in the last quarter. First Trust Advisors LP raised its stake in Alibaba Group by 2.2% during the 4th quarter. First Trust Advisors LP now owns 47,897 shares of the specialty retailer's stock worth $4,061,000 after acquiring an additional 1,037 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Alibaba Group by 6.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 9,205 shares of the specialty retailer's stock valued at $780,000 after acquiring an additional 579 shares during the last quarter. Beacon Pointe Advisors LLC boosted its stake in Alibaba Group by 9.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 6,354 shares of the specialty retailer's stock valued at $539,000 after acquiring an additional 561 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alibaba Group by 48.0% during the fourth quarter. Northern Trust Corp now owns 1,512,959 shares of the specialty retailer's stock worth $128,284,000 after purchasing an additional 490,913 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BABA. Robert W. Baird reduced their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Barclays decreased their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a report on Tuesday, June 24th. Finally, Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Trading Up 4.0%

NYSE:BABA opened at $122.8530 on Monday. Alibaba Group Holding Limited has a 12-month low of $79.21 and a 12-month high of $148.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock's 50 day simple moving average is $116.41 and its 200-day simple moving average is $121.31. The firm has a market cap of $292.98 billion, a P/E ratio of 16.49, a PEG ratio of 1.81 and a beta of 0.17.

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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