Alibaba Group Holding Ltd (BABA) Stake Lifted by Enlightenment Research LLC
Enlightenment Research LLC grew its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 119.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,083 shares of the specialty retailer’s stock after buying an additional 5,483 shares during the period. Alibaba Group accounts for 3.6% of Enlightenment Research LLC’s portfolio, making the stock its 4th biggest holding. Enlightenment Research LLC’s holdings in Alibaba Group were worth $1,840,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of BABA. Norges Bank bought a new stake in Alibaba Group during the 4th quarter valued at approximately $1,734,020,000. BlackRock Inc. raised its stake in Alibaba Group by 7.4% during the 4th quarter. BlackRock Inc. now owns 67,733,482 shares of the specialty retailer’s stock valued at $9,284,230,000 after purchasing an additional 4,674,615 shares during the period. Investec Asset Management LTD raised its stake in Alibaba Group by 87.4% during the 1st quarter. Investec Asset Management LTD now owns 5,335,580 shares of the specialty retailer’s stock valued at $973,477,000 after purchasing an additional 2,488,530 shares during the period. Legal & General Group Plc raised its stake in Alibaba Group by 40.4% during the 4th quarter. Legal & General Group Plc now owns 7,770,872 shares of the specialty retailer’s stock valued at $1,065,152,000 after purchasing an additional 2,234,676 shares during the period. Finally, Coatue Management LLC raised its stake in Alibaba Group by 70.5% during the 4th quarter. Coatue Management LLC now owns 5,348,736 shares of the specialty retailer’s stock valued at $733,151,000 after purchasing an additional 2,212,159 shares during the period. 40.49% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on BABA. Morgan Stanley set a $196.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research note on Tuesday, March 26th. SunTrust Banks reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Alibaba Group in a research note on Wednesday. Zacks Investment Research downgraded Alibaba Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. KeyCorp reaffirmed an “overweight” rating and issued a $240.00 price objective (up previously from $210.00) on shares of Alibaba Group in a research note on Tuesday, May 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $180.00 price objective (up previously from $175.00) on shares of Alibaba Group in a research note on Thursday, January 31st. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $212.96.
Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion during the quarter, compared to analysts’ expectations of $91.68 billion. Alibaba Group had a return on equity of 12.44% and a net margin of 19.87%. The company’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.73 EPS. As a group, research analysts forecast that Alibaba Group Holding Ltd will post 3.67 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Alibaba Group Holding Ltd (BABA) Stake Lifted by Enlightenment Research LLC” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2019/05/16/alibaba-group-holding-ltd-baba-stake-lifted-by-enlightenment-research-llc.html.
About Alibaba Group
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.
Featured Article: Why do commodities matter?
Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Ltd (NYSE:BABA).
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.