Sanibel Captiva Trust Company Inc. Purchases 2,921 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Sanibel Captiva Trust Company Inc. boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 26.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,121 shares of the specialty retailer’s stock after acquiring an additional 2,921 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Alibaba Group were worth $1,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group in the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group in the second quarter valued at approximately $27,000. Register Financial Advisors LLC bought a new position in shares of Alibaba Group in the first quarter valued at approximately $31,000. Finally, Asset Dedication LLC lifted its holdings in shares of Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $109.28 on Friday. The stock has a market cap of $277.30 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a fifty day moving average of $88.60 and a 200-day moving average of $80.64.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BABA shares. JPMorgan Chase & Co. raised their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Sanford C. Bernstein lifted 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. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Robert W. Baird lifted their price target on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.75.

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.