Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 11.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,403 shares of the specialty retailer’s stock after selling 1,101 shares during the period. Wealth Alliance’s holdings in Alibaba Group were worth $605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. ICA Group Wealth Management LLC increased its holdings in shares of Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 128 shares during the period. Bogart Wealth LLC increased its holdings in shares of Alibaba Group by 16.7% in the 1st quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 142 shares during the period. Legacy Advisors LLC increased its holdings in shares of Alibaba Group by 1.4% in the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 145 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after acquiring an additional 154 shares during the period. Finally, EPIQ Capital Group LLC increased its holdings in shares of Alibaba Group by 0.3% in the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after acquiring an additional 157 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BABA shares. Robert W. Baird increased their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Sanford C. Bernstein raised their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Bank of America raised their target price on shares of Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Performance

NYSE:BABA opened at $84.45 on Thursday. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $90.46. The company has a 50-day moving average of $80.41 and a 200-day moving average of $77.40. The firm has a market cap of $214.29 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.47 EPS. Analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

About Alibaba Group

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.