PNC Financial Services Group Inc. Trims Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

PNC Financial Services Group Inc. lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 53.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,746 shares of the specialty retailer’s stock after selling 48,404 shares during the period. PNC Financial Services Group Inc.’s holdings in Alibaba Group were worth $3,236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers raised its stake in Alibaba Group by 1.9% during the third quarter. Rhumbline Advisers now owns 24,034 shares of the specialty retailer’s stock worth $2,085,000 after purchasing an additional 446 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Alibaba Group in the third quarter worth $790,000. Envestnet Asset Management Inc. increased its position in shares of Alibaba Group by 39.6% in the third quarter. Envestnet Asset Management Inc. now owns 422,735 shares of the specialty retailer’s stock worth $36,668,000 after acquiring an additional 119,842 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in shares of Alibaba Group by 10.7% in the third quarter. Brandywine Global Investment Management LLC now owns 153,208 shares of the specialty retailer’s stock worth $13,289,000 after acquiring an additional 14,790 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Alibaba Group by 3.6% in the third quarter. LPL Financial LLC now owns 313,839 shares of the specialty retailer’s stock worth $27,222,000 after acquiring an additional 10,853 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BABA. Mizuho dropped their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Truist Financial lowered their price target on shares of Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a report on Tuesday, April 9th. Finally, Barclays lowered their price target on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $108.79.

Alibaba Group Stock Down 0.1 %

Shares of NYSE:BABA opened at $74.46 on Thursday. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $102.50. The company’s 50-day moving average price is $77.79 and its two-hundred day moving average price is $74.93. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The firm has a market cap of $188.94 billion, a P/E ratio of 17.36, a P/E/G ratio of 0.46 and a beta of 0.38.

Alibaba Group (NYSE:BABA) last issued its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.13. The company had revenue of $30.73 billion for the quarter, compared to analyst estimates of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. As a group, research analysts forecast that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Dividend Announcement

The company also recently disclosed a None dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 13th will be paid a dividend of $1.66 per share. This represents a yield of 3%. The ex-dividend date is Thursday, June 13th. Alibaba Group’s payout ratio is 22.84%.

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.