Alibaba Group Holding Limited (NYSE:BABA) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $178.63 and last traded at $178.57, with a volume of 13,530,896 shares trading hands. The stock had previously closed at $175.31.

A number of brokerages have recently commented on BABA. Robert W. Baird reaffirmed an “outperform” rating and set a $135.00 price objective (up previously from $116.00) on shares of Alibaba Group Holding Limited in a research report on Friday, May 19th. Macquarie increased their price target on shares of Alibaba Group Holding Limited from $171.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 18th. Bank of America Corporation increased their price target on shares of Alibaba Group Holding Limited from $180.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research report on Monday, May 22nd. Finally, SunTrust Banks, Inc. assumed coverage on shares of Alibaba Group Holding Limited in a research report on Tuesday, August 15th. They issued a “buy” rating and a $175.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $169.20.

The firm has a 50-day moving average price of $164.56 and a 200 day moving average price of $133.60. The stock has a market cap of $449.84 billion, a P/E ratio of 59.38 and a beta of 2.62.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same period in the prior year, the firm posted $0.74 EPS. Equities analysts anticipate that Alibaba Group Holding Limited will post $5.07 EPS for the current year.

Alibaba Group Holding Limited announced that its board has approved a share buyback plan on Thursday, May 18th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several large investors have recently bought and sold shares of BABA. Shine Investment Advisory Services Inc. bought a new stake in shares of Alibaba Group Holding Limited in the 2nd quarter valued at $102,000. FNY Managed Accounts LLC bought a new stake in shares of Alibaba Group Holding Limited in the 1st quarter valued at $107,000. Lee Financial Co boosted its stake in shares of Alibaba Group Holding Limited by 45.5% in the 2nd quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock valued at $113,000 after purchasing an additional 250 shares during the last quarter. Winch Advisory Services LLC boosted its stake in shares of Alibaba Group Holding Limited by 147.4% in the 2nd quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock valued at $114,000 after purchasing an additional 482 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Alibaba Group Holding Limited in the 2nd quarter valued at $116,000. 37.40% of the stock is currently owned by institutional investors.

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Alibaba Group Holding Limited Company Profile

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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