State Treasurer State of Michigan boosted its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 29.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,000 shares of the specialty retailer’s stock after purchasing an additional 52,000 shares during the period. State Treasurer State of Michigan’s holdings in Alibaba Group were worth $42,672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BABA. Nissay Asset Management Corp Japan ADV raised its stake in shares of Alibaba Group by 45.9% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 193,138 shares of the specialty retailer’s stock valued at $35,833,000 after acquiring an additional 60,736 shares during the last quarter. Flossbach Von Storch AG raised its stake in shares of Alibaba Group by 800.0% in the second quarter. Flossbach Von Storch AG now owns 99,000 shares of the specialty retailer’s stock valued at $18,367,000 after acquiring an additional 88,000 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Alibaba Group by 114.6% in the second quarter. CIBC World Markets Inc. now owns 172,385 shares of the specialty retailer’s stock valued at $31,983,000 after acquiring an additional 92,067 shares during the last quarter. GFS Advisors LLC bought a new position in shares of Alibaba Group in the second quarter valued at approximately $353,000. Finally, IPG Investment Advisors LLC raised its stake in shares of Alibaba Group by 35.0% in the second quarter. IPG Investment Advisors LLC now owns 24,645 shares of the specialty retailer’s stock valued at $4,572,000 after acquiring an additional 6,395 shares during the last quarter. Hedge funds and other institutional investors own 38.01% of the company’s stock.

BABA opened at $171.99 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.89 and a quick ratio of 1.89. Alibaba Group Holding Ltd has a 52 week low of $163.51 and a 52 week high of $211.70. The firm has a market cap of $461.03 billion, a price-to-earnings ratio of 42.68, a price-to-earnings-growth ratio of 1.15 and a beta of 2.49.

A number of research firms have recently issued reports on BABA. Wells Fargo & Co lifted their target price on shares of Alibaba Group from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, June 14th. Susquehanna Bancshares boosted their price objective on shares of Alibaba Group from $220.00 to $305.00 and gave the stock a “positive” rating in a research report on Thursday, June 7th. BNP Paribas started coverage on shares of Alibaba Group in a research report on Thursday, June 14th. They issued a “buy” rating for the company. Argus started coverage on shares of Alibaba Group in a research report on Monday, June 25th. They issued a “buy” rating and a $275.00 price objective for the company. Finally, Raymond James restated a “strong-buy” rating and issued a $300.00 price objective (up previously from $250.00) on shares of Alibaba Group in a research report on Thursday, May 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $230.51.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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

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