Nikko Asset Management Americas INC Has Lifted Its Stake in Alibaba Group Holding LTD (BABA) by $11.44 Million

September 8, 2018 - By Billy Entrekin

Nikko Asset Management Americas Inc increased its stake in Alibaba Group Holding Ltd (BABA) by 14.85% based on its latest 2018Q1 regulatory filing with the SEC. Nikko Asset Management Americas Inc bought 62,536 shares as the company’s stock rose 2.58% while stock markets declined. The institutional investor held 483,636 shares of the business services company at the end of 2018Q1, valued at $88.77 million, up from 421,100 at the end of the previous reported quarter. Nikko Asset Management Americas Inc who had been investing in Alibaba Group Holding Ltd for a number of months, seems to be bullish on the $417.60 billion market cap company. The stock increased 1.56% or $2.5 during the last trading session, reaching $162.37. About 19.45 million shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 61.13% since September 8, 2017 and is uptrending. It has outperformed by 48.56% the S&P500.

Nikko Asset Management Americas Inc, which manages about $3.82B and $2.81B US Long portfolio, decreased its stake in Kimberly (NYSE:KMB) by 39,995 shares to 37,405 shares, valued at $4.12M in 2018Q1, according to the filing. It also reduced its holding in Pioneer Natural Resources Co (NYSE:PXD) by 111,481 shares in the quarter, leaving it with 47,119 shares, and cut its stake in Teck Resources Ltd (NYSE:TCK).

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: Benzinga.com which released: “Earnings Preview: E-commerce Giant Alibaba To Report Thursday Morning” on August 22, 2018, also Seekingalpha.com with their article: “Susquehanna initiates JD.com at 10% upside” published on September 07, 2018, Seekingalpha.com published: “Alibaba: Digital Media Losses Getting Bigger” on September 07, 2018. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Seekingalpha.com and their article: “Alipay: Alibaba’s $150 Billion Moat” published on August 30, 2018 as well as Marketwatch.com‘s news article titled: “Alibaba co-founder Jack Ma to step down, stock dips” with publication date: September 07, 2018.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Coverage

Among 15 analysts covering Alibaba Group (NYSE:BABA), 15 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Alibaba Group had 23 analyst reports since March 14, 2018 according to SRatingsIntel. JP Morgan maintained it with “Overweight” rating and $215 target in Friday, August 24 report. The firm earned “Overweight” rating on Friday, August 24 by KeyBanc Capital Markets. On Friday, August 24 the stock rating was maintained by Nomura with “Buy”. Stifel Nicolaus maintained the shares of BABA in report on Monday, May 7 with “Buy” rating. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Outperform” rating by Robert W. Baird on Friday, August 24. The firm earned “Buy” rating on Wednesday, March 14 by Robert W. Baird. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Strong Buy” rating given on Thursday, August 16 by Raymond James. The stock has “Overweight” rating by Barclays Capital on Monday, August 27. The rating was maintained by Susquehanna on Thursday, June 7 with “Buy”. The company was maintained on Tuesday, May 29 by Robert W. Baird.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Chart

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