Franklin Resources Inc. Has $51.57 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Franklin Resources Inc. cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,299 shares of the specialty retailer’s stock after selling 558 shares during the period. Franklin Resources Inc.’s holdings in Alibaba Group were worth $51,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after acquiring an additional 3,740,150 shares in the last quarter. Hhlr Advisors LTD. lifted its position in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after acquiring an additional 3,448,152 shares during the period. FMR LLC boosted its stake in Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after acquiring an additional 2,959,954 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after purchasing an additional 1,679,117 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Up 1.3 %

NYSE:BABA opened at $87.16 on Wednesday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The firm has a 50-day moving average price of $93.74 and a two-hundred day moving average price of $86.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $208.28 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research report on Monday, October 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Finally, Mizuho boosted their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.07.

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.