Dodge & Cox recently announced the acquisition of new stake in Alibaba Group Holding Ltd ADR (NYSE:BABA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 10.23% to 16.09 million shares with purchase of 1.49 million shares. This fresh investment now brings its stake to 0.63% valued currently at $1.2 billion. In addition, Sanders Capital LLC raised its holdings by 11.47 million to 15.03 million shares. And Goldman Sachs & Co. LLC has lifted its position by 10.85% or 0.86 million shares – to 8.82 million shares.
With over 21.41 million Alibaba Group Holding Ltd ADR (BABA) shares trading Friday and a closing price of $73.01 on the day, the dollar volume was approximately $1.56 billion. The shares have shown a negative half year performance of -19.37% and its price on 01/05/24 lost nearly -2.21%. Currently, there are 2.57B common shares owned by the public and among those 2.38B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 58 analysts who have offered their price forecasts for BABA have a consensus price objective of $118.51. The analysts have set the share’s price value over the next 12 months at a high of $154.10 and a low of $64.00. The average price target is 40.61% above its recent price level and a downside to the estimated low will see the stock lose -14.08% over that period. But an upside of 52.62% will see the stock hit the forecast high price target while median target price for the stock is $118.00.
The top 3 mutual fund holders in Alibaba Group Holding Ltd ADR are Dodge & Cox International Stock F, Vanguard PRIMECAP Fund, and Fidelity Funds SICAV – Global Tec. Dodge & Cox International Stock F owns 10.46 million shares of the company’s stock, all valued at over $783.38 million. The company bought an additional 0.92 million shares recently to bring their total holdings to about 0.41% of the shares outstanding. Fidelity Funds SICAV – Global Tec bought 1.43 million shares to bring its total holdings to over 4.45 million shares at a value of $333.35 million. Fidelity Funds SICAV – Global Tec now owns shares totaling to 0.18% of the shares outstanding.
Shares of Alibaba Group Holding Ltd ADR (NYSE: BABA) opened at $74.00, down -$0.66 from a prior closing price of $74.66. However, the script later moved the day high at 74.00, down -2.21%. The company’s stock has a 5-day price change of -5.48% and -12.74% over the past three months. BABA shares are trading -5.81% year to date (YTD), with the 12-month market performance down to -29.74% lower. It has a 12-month low price of $70.08 and touched a high of $121.30 over the same period. BABA has an average intraday trading volume of 17.84 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 -1.61%, -6.38%, and -15.45% respectively.
Institutional ownership of Alibaba Group Holding Ltd ADR (NYSE: BABA) shares accounts for 14.97% of the company’s 2.57B shares outstanding. Mutual fund holders own 5.08%, while other institutional holders and individual stakeholders account for 9.01% and — respectively.
It has a market capitalization of $174.86B and a beta (3y monthly) value of 0.48. The stock’s trailing 12-month PE ratio is 10.11, while the earnings-per-share (ttm) stands at $7.22. The company has a PEG of 0.85 and a Quick Ratio of 1.94 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 2.00% over the week and 1.91% over the month.
Analysts forecast that Alibaba Group Holding Ltd ADR (BABA) will achieve an EPS of $2.83 for the current quarter, $1.82 for the next quarter and $10.15 for 2025. The lowest estimate earnings-per-share for the quarter is $2.55 while analysts give the company a high EPS estimate of $3.36. Comparatively, EPS for the current quarter was $2.79 a year ago. Earnings per share for the fiscal year are expected to increase by 17.29%, and 6.76% over the next financial year. EPS should grow at an annualized rate of 11.84% over the next five years, compared to 1.29% over the past 5-year period.
Looking at the support for the BABA, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on December 01, 2023, with the firm’s price target at $110-$90.
