Meridian Management Co. Increases Position in Alibaba Group Holding Ltd (NYSE:BABA)

Meridian Management Co. increased its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 42.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,183 shares of the specialty retailer’s stock after buying an additional 5,382 shares during the quarter. Alibaba Group accounts for about 1.3% of Meridian Management Co.’s portfolio, making the stock its 21st biggest holding. Meridian Management Co.’s holdings in Alibaba Group were worth $2,996,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Allianz Asset Management GmbH grew its position in shares of Alibaba Group by 2.4% in the first quarter. Allianz Asset Management GmbH now owns 4,162,271 shares of the specialty retailer’s stock valued at $763,943,000 after purchasing an additional 97,770 shares during the period. Clarus Wealth Advisors acquired a new stake in shares of Alibaba Group in the second quarter valued at about $125,000. American National Bank lifted its stake in shares of Alibaba Group by 55.8% in the second quarter. American National Bank now owns 796 shares of the specialty retailer’s stock worth $148,000 after buying an additional 285 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of Alibaba Group by 3.3% in the second quarter. Gulf International Bank UK Ltd now owns 283,670 shares of the specialty retailer’s stock worth $52,629,000 after buying an additional 8,970 shares in the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt purchased a new position in shares of Alibaba Group in the second quarter worth about $124,218,000. Institutional investors and hedge funds own 38.14% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Barclays set a $195.00 price target on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Monday, November 12th. Benchmark decreased their price target on shares of Alibaba Group from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. UBS Group reduced their target price on shares of Alibaba Group from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Morgan Stanley set a $196.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Alibaba Group to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Alibaba Group has a consensus rating of “Buy” and a consensus target price of $214.55.

Shares of Alibaba Group stock traded up $3.43 on Thursday, reaching $149.41. The company had a trading volume of 14,709,039 shares, compared to its average volume of 22,972,780. The company has a market capitalization of $373.88 billion, a price-to-earnings ratio of 37.07, a price-to-earnings-growth ratio of 1.35 and a beta of 2.35. Alibaba Group Holding Ltd has a 52-week low of $130.06 and a 52-week high of $211.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 1.42.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.51 billion. Alibaba Group had a net margin of 19.33% and a return on equity of 12.99%. The business’s revenue was up 49.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. Equities analysts expect that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current year.

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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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