AMF Tjanstepension AB Purchases 645,370 Shares of Alibaba Group Holding Limited (NYSE:BABA)

AMF Tjanstepension AB grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 79.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,454,405 shares of the specialty retailer’s stock after purchasing an additional 645,370 shares during the quarter. Alibaba Group comprises approximately 0.8% of AMF Tjanstepension AB’s portfolio, making the stock its 29th biggest holding. AMF Tjanstepension AB owned 0.06% of Alibaba Group worth $105,241,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Rhumbline Advisers grew its holdings in Alibaba Group by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 24,034 shares of the specialty retailer’s stock valued at $2,085,000 after buying an additional 446 shares in the last quarter. LPL Financial LLC grew its stake in Alibaba Group by 3.6% during the third quarter. LPL Financial LLC now owns 313,839 shares of the specialty retailer’s stock valued at $27,222,000 after acquiring an additional 10,853 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Alibaba Group by 18.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,997 shares of the specialty retailer’s stock worth $433,000 after acquiring an additional 790 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alibaba Group in the 3rd quarter worth approximately $2,210,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Alibaba Group by 19.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 57,212 shares of the specialty retailer’s stock valued at $4,963,000 after purchasing an additional 9,495 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.5 %

Shares of BABA stock traded down $0.35 during mid-day trading on Friday, reaching $72.02. 10,318,913 shares of the company’s stock traded hands, compared to its average volume of 17,804,719. The company has a market cap of $182.75 billion, a P/E ratio of 16.79, a P/E/G ratio of 0.46 and a beta of 0.38. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $102.50. The company’s 50-day moving average price is $78.23 and its 200-day moving average price is $74.98.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.13. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The business had revenue of $30.73 billion during the quarter, compared to analysts’ expectations of $30.59 billion. On average, equities analysts expect that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Alibaba Group Dividend Announcement

The firm also recently declared a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be paid a $1.66 dividend. This represents a dividend yield of 3%. The ex-dividend date of this dividend is Thursday, June 13th. Alibaba Group’s dividend payout ratio is currently 22.84%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Alibaba Group from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Loop Capital lifted their price objective on shares of Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. reduced their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Mizuho dropped their price target on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Truist Financial reduced their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $108.79.

About Alibaba Group

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.