T. Rowe Price Associates, Inc. (I.. recently announced the acquisition of new stake in Alibaba Group Holding Limited (NYSE:BABA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 5.10% to 67.6 million shares with purchase of 3.28 million shares. This fresh investment now brings its stake to 2.52% valued currently at $16.97 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.66 million to 57.28 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.08% or 30873.0 shares – to 38.01 million shares.
With over 13.24 million Alibaba Group Holding Limited (BABA) shares trading Monday and a closing price of $287.03 on the day, the dollar volume was approximately $3.8 billion. The shares have shown a positive weekly performance of 3.99% and its price on 08/31/20 lost nearly -0.68%. Currently, there are 2.70B common shares owned by the public and among those 1.85B shares have been available to trade.
Incidentally, analysts’ outlook for the Alibaba Group Holding Limited stock is 1.60 for the next 12 months.
The top 3 mutual fund holders in Alibaba Group Holding Limited are Vanguard Total International Stoc, Vanguard Emerging Markets Stock I, and T Rowe Price Blue Chip Growth Fun. Vanguard Total International Stoc owns 29.7 million shares of the company’s stock, all valued at over $7.45 billion. The company sold -0.3 million shares recently to bring their total holdings to about 1.11% of the shares outstanding. Vanguard Emerging Markets Stock I bought 46286.0 shares to see its total holdings expand to 23.88 million shares valued at over $5.99 billion and representing 0.89% of the shares outstanding. T Rowe Price Blue Chip Growth Fun bought 0.22 million shares to bring its total holdings to over 14.66 million shares at a value of $3.68 billion. T Rowe Price Blue Chip Growth Fun now owns shares totaling to 0.55% of the shares outstanding.
Shares of Alibaba Group Holding Limited (NYSE: BABA) opened at $288.62, down -$0.38 from a prior closing price of $289.00. However, the script later closed the day at $287.03, down -0.68%. The company’s stock has a 5-day price change of 3.99% and 33.92% over the past three months. BABA shares are trading 35.33% year to date (YTD), with the 12-month market performance up to 63.99% higher. It has a 12-month low price of $161.68 and touched a high of $292.48 over the same period. Currently, 13.24 million shares have been traded, compared to an average intraday trading volume of 16.93 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.52%, 14.70%, and 32.27% respectively.
Institutional ownership of Alibaba Group Holding Limited (NYSE: BABA) shares accounts for 47.00% of the company’s 2.70B shares outstanding. Mutual fund holders own 21.00%, while other institutional holders and individual stakeholders account for 24.95% and — respectively.
It has a market capitalization of $763.62B and a beta (3y monthly) value of 1.56. The stock’s trailing 12-month PE ratio is 30.16, while the earnings-per-share (ttm) stands at $9.52. The company has a PEG of 9.09 and a Quick Ratio of 2.00 with the debt-to-equity ratio at 0.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.93% over the week and 2.45% over the month.
Analysts forecast that Alibaba Group Holding Limited (BABA) will achieve an EPS of $2.11 for the current quarter, $3.04 for the next quarter and $11.55 for 2022. The lowest estimate earnings-per-share for the quarter is $1.93 while analysts give the company a high EPS estimate of $2.45. Comparatively, EPS for the current quarter was $1.85 a year ago. Earnings per share for the fiscal year are expected to increase by 67.50%, and 24.85% over the next financial year. EPS should shrink at an annualized rate of 3.32% over the next five years, compared to 42.10% over the past 5-year period.
Looking at the support for the BABA, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on August 24, 2020, with the firm’s price target at $300-$320. The Benchmark Company coverage for the Alibaba Group Holding Limited (BABA) stock in a research note released on August 21, 2020 offered a Buy rating with a price target of $290. Needham was of a view on July 09, 2020 that the stock is Buy, while The Benchmark Company gave the stock Buy rating on February 14, 2020, issuing a price target of $220- $275. DZ Bank on their part issued Buy rating on January 22, 2020.