Fifth Third Bancorp Purchases 94 Shares of Alibaba Group Holding Limited $BABA

Fifth Third Bancorp lifted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,779 shares of the specialty retailer’s stock after purchasing an additional 94 shares during the quarter. Fifth Third Bancorp’s holdings in Alibaba Group were worth $1,109,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BABA. Temasek Holdings Private Ltd raised its position in shares of Alibaba Group by 23.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after buying an additional 1,045,789 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Alibaba Group by 52.1% in the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock worth $303,215,000 after purchasing an additional 785,494 shares during the period. Causeway Capital Management LLC increased its position in shares of Alibaba Group by 42.6% during the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock valued at $179,305,000 after purchasing an additional 404,842 shares during the last quarter. WCM Investment Management LLC purchased a new stake in Alibaba Group during the 1st quarter valued at $4,074,000. Finally, KMG Fiduciary Partners LLC bought a new stake in Alibaba Group in the first quarter worth $1,948,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA stock opened at $171.88 on Monday. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $180.16. The business has a 50-day moving average price of $134.37 and a 200 day moving average price of $124.52. The company has a market capitalization of $409.77 billion, a P/E ratio of 19.99, a PEG ratio of 1.98 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, September 18th. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. UBS Group reiterated a “buy” rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Zacks Research raised shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Finally, Mizuho raised their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Alibaba Group has an average rating of “Buy” and a consensus target price of $172.81.

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.