Independent Advisor Alliance Decreases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Independent Advisor Alliance lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.8% in the third quarter, Holdings Channel reports. The firm owned 7,238 shares of the specialty retailer’s stock after selling 532 shares during the period. Independent Advisor Alliance’s holdings in Alibaba Group were worth $768,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Douglass Winthrop Advisors LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter worth about $329,000. Ativo Capital Management LLC boosted its holdings in Alibaba Group by 6.5% in the 3rd quarter. Ativo Capital Management LLC now owns 35,898 shares of the specialty retailer’s stock worth $3,809,000 after acquiring an additional 2,190 shares during the period. Seldon Capital LP purchased a new position in Alibaba Group in the 3rd quarter worth approximately $361,000. Larson Financial Group LLC boosted its holdings in Alibaba Group by 177.4% in the 3rd quarter. Larson Financial Group LLC now owns 2,793 shares of the specialty retailer’s stock worth $296,000 after acquiring an additional 1,786 shares during the period. Finally, KKM Financial LLC purchased a new position in Alibaba Group in the 3rd quarter worth approximately $424,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA stock opened at $86.60 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market cap of $207.21 billion, a P/E ratio of 17.57, a P/E/G ratio of 0.42 and a beta of 0.35. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The stock’s 50 day simple moving average is $98.51 and its 200 day simple moving average is $86.01.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. During the same period in the prior year, the company posted $1.82 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BABA shares. JPMorgan Chase & Co. upped their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Benchmark restated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Barclays cut their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

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.