Alibaba Group (NYSE:BABA) Sets New 52-Week High at $113.11

Alibaba Group Holding Limited (NYSE:BABA)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $113.11 and last traded at $113.11, with a volume of 2750650 shares trading hands. The stock had previously closed at $107.33.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BABA shares. Sanford C. Bernstein increased their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Bank of America boosted their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Robert W. Baird raised their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Stock Up 6.2 %

The firm’s fifty day simple moving average is $84.31 and its 200-day simple moving average is $79.02. The company has a market cap of $286.05 billion, a PE ratio of 26.28, a P/E/G ratio of 0.46 and a beta of 0.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently modified their holdings of BABA. Primecap Management Co. CA lifted its stake in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after buying an additional 1,074,175 shares during the period. FIL Ltd increased its stake in Alibaba Group by 10.2% in the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock valued at $823,986,000 after purchasing an additional 983,842 shares during the last quarter. H&H International Investment LLC lifted its position in Alibaba Group by 63.1% during the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after buying an additional 1,918,730 shares during the period. ARGA Investment Management LP boosted its stake in Alibaba Group by 39.2% in the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after buying an additional 1,009,397 shares during the last quarter. Finally, RWWM Inc. grew its holdings in Alibaba Group by 36.8% in the 4th quarter. RWWM Inc. now owns 3,185,411 shares of the specialty retailer’s stock valued at $246,854,000 after buying an additional 857,093 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.