Rhumbline Advisers Cuts Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Rhumbline Advisers cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,082 shares of the specialty retailer’s stock after selling 1,888 shares during the period. Rhumbline Advisers’ holdings in Alibaba Group were worth $1,590,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. Knuff & Co LLC increased its stake in shares of Alibaba Group by 10.1% in the 2nd quarter. Knuff & Co LLC now owns 45,554 shares of the specialty retailer’s stock valued at $3,280,000 after purchasing an additional 4,190 shares in the last quarter. Natixis Advisors LLC increased its holdings in Alibaba Group by 3.1% in the 2nd quarter. Natixis Advisors LLC now owns 555,107 shares of the specialty retailer’s stock worth $39,968,000 after acquiring an additional 16,771 shares in the last quarter. Waterfront Wealth Inc. raised its position in Alibaba Group by 3.2% during the second quarter. Waterfront Wealth Inc. now owns 19,348 shares of the specialty retailer’s stock worth $1,393,000 after acquiring an additional 606 shares during the period. Ritholtz Wealth Management lifted its holdings in Alibaba Group by 37.1% during the second quarter. Ritholtz Wealth Management now owns 27,780 shares of the specialty retailer’s stock valued at $2,000,000 after purchasing an additional 7,519 shares in the last quarter. Finally, Summit Financial LLC acquired a new stake in shares of Alibaba Group in the second quarter valued at about $316,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.2 %

Shares of BABA opened at $88.31 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $224.09 billion, a PE ratio of 20.59, a P/E/G ratio of 0.43 and a beta of 0.33. The company’s 50-day simple moving average is $80.79 and its 200-day simple moving average is $77.59. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $90.46.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping 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 company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Friday, August 16th. Bank of America raised their target price on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird upped their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Three investment 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 company has a consensus rating of “Moderate Buy” and an average target price of $107.61.

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.