Alibaba Group Hldg LTD (BABA) Holder Ngam Advisors LP Cut Its Holding

July 14, 2018 - By mmahotstuff

Ngam Advisors Lp decreased its stake in Alibaba Group Hldg Ltd (BABA) by 2.04% based on its latest 2018Q1 regulatory filing with the SEC. Ngam Advisors Lp sold 18,549 shares as the company’s stock rose 2.58% while stock markets declined. The institutional investor held 890,585 shares of the business services company at the end of 2018Q1, valued at $163.46M, down from 909,134 at the end of the previous reported quarter. Ngam Advisors Lp who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be less bullish one the $488.30 billion market cap company. The stock decreased 0.07% or $0.13 during the last trading session, reaching $190.04. About 12.56 million shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 61.13% since July 14, 2017 and is uptrending. It has outperformed by 48.56% the S&P500.

Ngam Advisors Lp, which manages about $16.78 billion and $10.13B US Long portfolio, upped its stake in Halliburton Co (NYSE:HAL) by 108,648 shares to 598,489 shares, valued at $28.09M in 2018Q1, according to the filing. It also increased its holding in Bank Amer Corp (NYSE:BAC) by 113,949 shares in the quarter, for a total of 1.44M shares, and has risen its stake in Hologic Inc (NASDAQ:HOLX).

Analysts await Alibaba Group Holding Limited (NYSE:BABA) to report earnings on August, 16. They expect $1.14 earnings per share, up 21.28 % or $0.20 from last year’s $0.94 per share. BABA’s profit will be $2.93B for 41.68 P/E if the $1.14 EPS becomes a reality. After $0.54 actual earnings per share reported by Alibaba Group Holding Limited for the previous quarter, Wall Street now forecasts 111.11 % EPS growth.

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: Seekingalpha.com which released: “Why Alibaba Is A No-Brainer” on July 11, 2018, also Seekingalpha.com with their article: “Alibaba: A Brilliant Opportunity” published on July 13, 2018, Seekingalpha.com published: “Is The Exuberance Over Ant Financial Justified?” on July 09, 2018. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Benzinga.com and their article: “KeyBanc Upgrades Baidu, Lowers Alibaba Estimates In Chinese Internet Update” published on July 09, 2018 as well as Seekingalpha.com‘s news article titled: “Alibaba Is A No-Brainer” with publication date: June 26, 2018.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Coverage

Among 17 analysts covering Alibaba Group (NYSE:BABA), 17 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Alibaba Group has $30500 highest and $210.0 lowest target. $247.53’s average target is 30.25% above currents $190.04 stock price. Alibaba Group had 27 analyst reports since January 15, 2018 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, February 1 by Bank of America. KeyBanc Capital Markets maintained it with “Buy” rating and $228.0 target in Friday, February 2 report. Robert W. Baird maintained it with “Buy” rating and $220.0 target in Wednesday, March 14 report. Raymond James maintained Alibaba Group Holding Limited (NYSE:BABA) on Thursday, May 24 with “Buy” rating. The firm earned “Buy” rating on Thursday, January 25 by China Renaissance Securities (US) Inc.. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Buy” rating given on Thursday, June 7 by Susquehanna. Oppenheimer maintained Alibaba Group Holding Limited (NYSE:BABA) rating on Tuesday, March 6. Oppenheimer has “Buy” rating and $220.0 target. The firm has “Buy” rating by Robert W. Baird given on Thursday, February 1. The firm has “Outperform” rating by Wells Fargo given on Thursday, June 14. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Monday, May 7.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Chart

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