Ruggie Capital Group cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 26.6% during the second quarter, Holdings Channel reports. The firm owned 2,558 shares of the specialty retailer’s stock after selling 926 shares during the period. Ruggie Capital Group’s holdings in Alibaba Group Holding Limited were worth $360,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. BlackRock Inc. raised its position in 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 worth $6,145,123,000 after buying an additional 54,829,289 shares during the period. Schroder Investment Management Group boosted its stake in Alibaba Group Holding Limited by 3.3% in the first quarter. Schroder Investment Management Group now owns 24,415,309 shares of the specialty retailer’s stock worth $2,657,606,000 after buying an additional 776,232 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in 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 worth $2,332,996,000 after buying an additional 2,030,747 shares in the last quarter. State Street Corp boosted its stake in Alibaba Group Holding Limited by 1.8% in the first quarter. State Street Corp now owns 18,826,837 shares of the specialty retailer’s stock worth $2,030,102,000 after buying an additional 329,969 shares in the last quarter. Finally, FMR LLC boosted its stake in Alibaba Group Holding Limited by 3.8% in the first quarter. FMR LLC now owns 17,733,916 shares of the specialty retailer’s stock worth $1,912,249,000 after buying an additional 642,778 shares in the last quarter. Hedge funds and other institutional investors own 36.75% of the company’s stock.

Shares of Alibaba Group Holding Limited (BABA) opened at 157.49 on Thursday. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $160.39. The stock’s 50 day moving average price is $149.30 and its 200 day moving average price is $121.89. The stock has a market cap of $398.45 billion, a price-to-earnings ratio of 62.32 and a beta of 2.64.

Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.26 billion. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. During the same quarter in the previous year, the business posted $0.47 earnings per share. Equities research analysts anticipate that Alibaba Group Holding Limited will post $4.60 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its board has approved a share repurchase program on Thursday, May 18th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

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BABA has been the topic of a number of analyst reports. Barclays PLC raised their price target on Alibaba Group Holding Limited to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $120.00 price target on shares of Alibaba Group Holding Limited in a research note on Tuesday, May 16th. Zacks Investment Research upgraded Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 price target on the stock in a research note on Thursday, June 15th. CIBC raised their price target on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, May 23rd. Finally, Goldman Sachs Group, Inc. (The) set a $179.00 price target on Alibaba Group Holding Limited and gave the company a “buy” rating in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. Alibaba Group Holding Limited currently has an average rating of “Buy” and an average target price of $142.21.

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.

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

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