Federated Hermes Inc. Trims Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Federated Hermes Inc. lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 93.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,257 shares of the specialty retailer’s stock after selling 1,159,900 shares during the quarter. Federated Hermes Inc.’s holdings in Alibaba Group were worth $5,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BABA. First Command Advisory Services Inc. bought a new stake in Alibaba Group during the second quarter worth about $25,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Alibaba Group in the 1st quarter worth approximately $31,000. Asset Dedication LLC grew its stake in shares of Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after buying an additional 400 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in Alibaba Group during the 2nd quarter valued at approximately $40,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 0.3 %

BABA stock opened at $84.45 on Thursday. The company has a market cap of $214.29 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 0.43 and a beta of 0.33. 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 business’s 50-day moving average is $80.41 and its two-hundred day moving average is $77.40. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $90.46.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BABA shares. Bank of America increased their target price on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Robert W. Baird increased their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.61.

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.