Covington Capital Management purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,815 shares of the specialty retailer’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. acquired a new position in Alibaba Group Holding Limited in the 2nd quarter worth about $102,000. Lee Financial Co raised its holdings in Alibaba Group Holding Limited by 45.5% in the 2nd quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after purchasing an additional 250 shares during the period. Winch Advisory Services LLC increased its stake in Alibaba Group Holding Limited by 147.4% during the 2nd quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after buying an additional 482 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in Alibaba Group Holding Limited during the 2nd quarter worth approximately $116,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Alibaba Group Holding Limited by 29.0% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 890 shares of the specialty retailer’s stock worth $125,000 after buying an additional 200 shares in the last quarter. 37.39% of the stock is owned by institutional investors.

Several research firms have commented on BABA. BidaskClub upgraded Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a research note on Thursday. HSBC Holdings plc reiterated a “buy” rating and set a $204.00 price objective (up from $184.00) on shares of Alibaba Group Holding Limited in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Alibaba Group Holding Limited from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Monday, October 9th. Raymond James Financial, Inc. reiterated a “strong-buy” rating on shares of Alibaba Group Holding Limited in a research note on Thursday, October 5th. Finally, Vetr lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $199.42 price objective for the company. in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $177.09.

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Shares of Alibaba Group Holding Limited (BABA) traded down 1.15% during mid-day trading on Friday, hitting $178.45. The stock had a trading volume of 18,107,742 shares. Alibaba Group Holding Limited has a 12-month low of $86.01 and a 12-month high of $184.70. The stock has a market cap of $453.80 billion, a P/E ratio of 59.23 and a beta of 2.60. The company’s 50 day moving average price is $175.04 and its 200 day moving average price is $144.72.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.21. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. The firm had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same quarter in the previous year, the business posted $0.74 EPS. Equities research analysts predict that Alibaba Group Holding Limited will post $4.98 EPS for the current fiscal year.

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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