Banque Pictet & Cie SA Has $4.27 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Banque Pictet & Cie SA lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,389 shares of the specialty retailer’s stock after purchasing an additional 8,039 shares during the quarter. Banque Pictet & Cie SA’s holdings in Alibaba Group were worth $4,269,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Concord Wealth Partners increased its stake in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Alibaba Group in the 4th quarter valued at $31,000. Highline Wealth Partners LLC acquired a new position in Alibaba Group in the 3rd quarter valued at $36,000. Assetmark Inc. grew its stake in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in Alibaba Group in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BABA shares. Barclays lowered their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Robert W. Baird raised their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Mizuho increased their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.86.

Alibaba Group Price Performance

NYSE:BABA opened at $124.73 on Friday. The company has a 50-day moving average of $90.47 and a 200-day moving average of $90.70. The company has a market capitalization of $296.71 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.42 and a beta of 0.31. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $126.80. 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 (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.82 EPS. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

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.