Lake Hills Wealth Management LLC Sells 411 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Lake Hills Wealth Management LLC cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,421 shares of the specialty retailer’s stock after selling 411 shares during the period. Lake Hills Wealth Management LLC’s holdings in Alibaba Group were worth $575,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Koshinski Asset Management Inc. bought a new position in Alibaba Group in the 3rd quarter valued at approximately $213,000. Ritholtz Wealth Management boosted its position in shares of Alibaba Group by 34.8% during the third quarter. Ritholtz Wealth Management now owns 37,437 shares of the specialty retailer’s stock valued at $3,973,000 after buying an additional 9,657 shares during the last quarter. Perfromance Wealth Partners LLC bought a new stake in Alibaba Group in the 3rd quarter worth about $220,000. Octavia Wealth Advisors LLC purchased a new position in Alibaba Group in the 3rd quarter worth about $234,000. Finally, Wynn Capital LLC lifted its stake in Alibaba Group by 10.0% during the 3rd quarter. Wynn Capital LLC now owns 12,878 shares of the specialty retailer’s stock valued at $1,367,000 after acquiring an additional 1,168 shares during the period. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Bank of America boosted 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. Truist Financial reduced their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Robert W. Baird boosted their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

Alibaba Group Stock Up 0.8 %

NYSE BABA traded up $0.86 on Friday, reaching $110.14. 18,042,614 shares of the stock traded hands, compared to its average volume of 17,863,152. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. 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 company has a fifty day moving average price of $89.88 and a 200-day moving average price of $81.18. The company has a market cap of $279.48 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 0.55 and a beta of 0.35.

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

Alibaba Group Company 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.