Selective Wealth Management Inc. Trims Stake in Alibaba Group Holding Limited (NYSE:BABA)

Selective Wealth Management Inc. lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 71.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,873 shares of the specialty retailer’s stock after selling 34,651 shares during the quarter. Selective Wealth Management Inc.’s holdings in Alibaba Group were worth $1,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Generate Investment Management Ltd acquired a new stake in Alibaba Group in the 3rd quarter valued at about $12,656,000. Nations Financial Group Inc. IA ADV raised its stake in Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after buying an additional 11,192 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Alibaba Group by 6.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Alibaba Group by 7,734.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new stake in Alibaba Group during the third quarter worth approximately $115,995,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $85.16 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $202.93 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.40 and a beta of 0.30. The company has a 50-day simple moving average of $86.24 and a 200-day simple moving average of $87.59. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Robert W. Baird lifted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America lifted their price objective 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. Citigroup boosted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.13.

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.