Bank of Montreal Can Purchases Shares of 595,626 Alibaba Group Holding Limited (NYSE:BABA)

Bank of Montreal Can purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, HoldingsChannel reports. The firm purchased 595,626 shares of the specialty retailer’s stock, valued at approximately $63,929,000.

A number of other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. grew its holdings in shares of Alibaba Group by 17.6% in the first quarter. Advisors Asset Management Inc. now owns 3,387 shares of the specialty retailer’s stock valued at $245,000 after purchasing an additional 506 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Alibaba Group by 46.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 22,946 shares of the specialty retailer’s stock valued at $1,660,000 after purchasing an additional 7,307 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Alibaba Group in the first quarter valued at approximately $175,000. Sanibel Captiva Trust Company Inc. grew its holdings in shares of Alibaba Group by 43.9% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 8,200 shares of the specialty retailer’s stock valued at $593,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in shares of Alibaba Group by 22.7% in the first quarter. Atria Investments Inc now owns 35,967 shares of the specialty retailer’s stock valued at $2,603,000 after purchasing an additional 6,665 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BABA. Barclays dropped their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Susquehanna lowered their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Truist Financial lowered their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Stock Up 1.7 %

Shares of NYSE:BABA opened at $86.60 on Thursday. The company has a market capitalization of $207.21 billion, a PE ratio of 17.57, a P/E/G ratio of 0.42 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The firm has a 50 day simple moving average of $98.51 and a 200-day simple moving average of $86.01.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Alibaba Group 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.