GAM Holding AG increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 32.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,229,511 shares of the specialty retailer’s stock after buying an additional 303,500 shares during the period. Alibaba Group Holding Limited comprises approximately 2.6% of GAM Holding AG’s portfolio, making the stock its 2nd largest position. GAM Holding AG’s holdings in Alibaba Group Holding Limited were worth $173,235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock valued at $6,145,123,000 after buying an additional 54,829,289 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Alibaba Group Holding Limited by 87.4% in the second quarter. Fisher Asset Management LLC now owns 10,318,873 shares of the specialty retailer’s stock valued at $1,453,929,000 after buying an additional 4,813,431 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Alibaba Group Holding Limited by 69.2% in the first quarter. William Blair Investment Management LLC now owns 7,603,566 shares of the specialty retailer’s stock valued at $819,893,000 after buying an additional 3,110,026 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Alibaba Group Holding Limited by 10.4% in the first quarter. OppenheimerFunds Inc. now owns 21,635,868 shares of the specialty retailer’s stock valued at $2,332,996,000 after buying an additional 2,030,747 shares during the last quarter. Finally, Barings LLC acquired a new position in shares of Alibaba Group Holding Limited during the first quarter valued at about $214,131,000. 36.81% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Holding Limited (NYSE BABA) traded up 1.468% on Tuesday, hitting $171.735. The stock had a trading volume of 6,128,721 shares. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $171.90. The company has a 50-day moving average price of $153.23 and a 200-day moving average price of $125.40. The stock has a market capitalization of $436.72 billion, a price-to-earnings ratio of 58.215 and a beta of 2.64.

Alibaba Group Holding Limited (NYSE:BABA) last announced its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.21. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. The firm had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter in the previous year, the business earned $0.74 EPS. Equities research analysts anticipate that Alibaba Group Holding Limited will post $4.85 earnings per share for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has authorized a share repurchase program on Thursday, May 18th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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Several equities analysts have issued reports on BABA shares. BidaskClub downgraded Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) set a $179.00 price objective on Alibaba Group Holding Limited and gave the company a “buy” rating in a research report on Friday, June 9th. Vetr upgraded Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $173.25 price objective for the company in a research report on Tuesday, August 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $120.00 price objective on shares of Alibaba Group Holding Limited in a research report on Tuesday, May 23rd. Finally, CIBC lifted their price objective on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $164.72.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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