W.G. Shaheen & Associates DBA Whitney & Co Trims Position in Alibaba Group Holding Limited (NYSE:BABA)

W.G. Shaheen & Associates DBA Whitney & Co trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,920 shares of the specialty retailer’s stock after selling 686 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alibaba Group were worth $2,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BABA. Primecap Management Co. CA increased its holdings in Alibaba Group by 5.2% in the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after buying an additional 1,074,175 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after purchasing an additional 5,715,155 shares during the last quarter. AMF Tjanstepension AB grew its position in shares of Alibaba Group by 6.9% in the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after purchasing an additional 178,999 shares during the last quarter. Eminence Capital LP grew its position in shares of Alibaba Group by 9.0% in the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after purchasing an additional 150,488 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Shares of BABA stock opened at $89.37 on Tuesday. The firm has a market cap of $213.99 billion, a P/E ratio of 18.13, a P/E/G ratio of 0.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The firm has a fifty day moving average of $98.34 and a two-hundred day moving average of $85.77.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The company had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. During the same period last year, the business earned $1.82 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on BABA shares. Barclays raised their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Monday, October 7th. Mizuho raised their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday. Finally, Bank of America raised their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.53.

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.