Procyon Advisors LLC Purchases 633 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Procyon Advisors LLC increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,160 shares of the specialty retailer’s stock after purchasing an additional 633 shares during the period. Procyon Advisors LLC’s holdings in Alibaba Group were worth $1,794,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BABA. Generate Investment Management Ltd bought a new position in Alibaba Group in the 3rd quarter worth approximately $12,656,000. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after buying an additional 11,192 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Alibaba Group by 7,734.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after acquiring an additional 266,361 shares in the last quarter. Finally, Aspex Management HK Ltd purchased a new stake in Alibaba Group in the 3rd quarter worth $115,995,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA stock opened at $85.16 on Friday. The stock has a 50 day moving average price of $86.24 and a 200 day moving average price of $87.59. The firm has a market capitalization of $202.93 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.40 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research report on Monday, October 7th. Mizuho lifted their price objective on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Barclays lowered their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Citigroup boosted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.13.

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.