M&T Bank Corp Has $4.02 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

M&T Bank Corp increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.1% during the 4th quarter, HoldingsChannel reports. The firm owned 51,805 shares of the specialty retailer’s stock after purchasing an additional 8,318 shares during the period. M&T Bank Corp’s holdings in Alibaba Group were worth $4,015,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in Alibaba Group in the third quarter valued at $26,000. Baystate Wealth Management LLC boosted its holdings in shares of Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 216 shares during the last quarter. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group in the third quarter valued at $30,000. Milestone Investment Advisors LLC acquired a new position in Alibaba Group during the third quarter worth $31,000. Finally, Anchor Investment Management LLC bought a new stake in Alibaba Group during the fourth quarter worth $31,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BABA shares. Citigroup lowered their price objective on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their price target on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a research report on Tuesday, April 9th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $112.49.

Alibaba Group Trading Down 2.7 %

NYSE BABA opened at $79.38 on Wednesday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. The business has a 50 day simple moving average of $73.60 and a 200 day simple moving average of $75.11. The stock has a market capitalization of $201.43 billion, a P/E ratio of 14.65 and a beta of 0.44.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The company had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 earnings per share. Research analysts expect that Alibaba Group Holding Limited will post 7.54 earnings per share for the current year.

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.