TD Asset Management Inc Has $12.32 Million Stake in Alibaba Group Holding Limited $BABA

Key Points

• TD Asset Management Inc increased its stake in Alibaba Group by 25.3% in Q2, now holding 108,615 shares valued at approximately $12.32 million.
• Several other investors, including Wilson Asset Management and Verdence Capital Advisors, also boosted their positions in Alibaba during the same quarter.
• Analyst ratings have improved for Alibaba, with firms like Jefferies raising their target price to $230.00 and declaring a "buy" rating.

TD Asset Management Inc grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 25.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 108,615 shares of the specialty retailer's stock after buying an additional 21,944 shares during the period. TD Asset Management Inc's holdings in Alibaba Group were worth $12,318,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Wilson Asset Management International PTY Ltd. raised its position in shares of Alibaba Group by 19.3% during the second quarter. Wilson Asset Management International PTY Ltd. now owns 64,256 shares of the specialty retailer's stock valued at $7,287,000 after buying an additional 10,416 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Alibaba Group by 64.7% during the second quarter. Verdence Capital Advisors LLC now owns 3,300 shares of the specialty retailer's stock valued at $374,000 after buying an additional 1,296 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Alibaba Group by 0.5% during the second quarter. Pzena Investment Management LLC now owns 53,338 shares of the specialty retailer's stock valued at $6,049,000 after buying an additional 268 shares during the last quarter. MGO One Seven LLC raised its position in shares of Alibaba Group by 21.8% during the second quarter. MGO One Seven LLC now owns 6,651 shares of the specialty retailer's stock valued at $754,000 after buying an additional 1,189 shares during the last quarter. Finally, LRI Investments LLC raised its position in shares of Alibaba Group by 4.7% during the second quarter. LRI Investments LLC now owns 2,287 shares of the specialty retailer's stock valued at $259,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $167.03 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $398.21 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.23 and a beta of 0.18. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $192.67. The firm's 50-day moving average price is $150.98 and its two-hundred day moving average price is $128.65.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BABA. Arete Research raised shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Jefferies Financial Group upped their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, September 29th. UBS Group reissued a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. CLSA upped their target price on shares of Alibaba Group from $155.00 to $200.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Finally, Nomura upped their target price on shares of Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $188.06.

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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