Northwestern Mutual Wealth Management Co. Has $11.16 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Northwestern Mutual Wealth Management Co. cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.7% in the second quarter, Holdings Channel reports. The firm owned 154,965 shares of the specialty retailer’s stock after selling 9,292 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Alibaba Group were worth $11,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bank of Nova Scotia increased its stake in shares of Alibaba Group by 768.7% in the 4th quarter. Bank of Nova Scotia now owns 36,746 shares of the specialty retailer’s stock valued at $2,848,000 after acquiring an additional 32,516 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in Alibaba Group by 44.1% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 16,020 shares of the specialty retailer’s stock valued at $1,242,000 after purchasing an additional 4,902 shares during the period. Peapack Gladstone Financial Corp bought a new stake in Alibaba Group in the fourth quarter valued at approximately $351,000. Belpointe Asset Management LLC acquired a new stake in Alibaba Group in the fourth quarter worth $294,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Alibaba Group by 101.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 912,364 shares of the specialty retailer’s stock worth $70,717,000 after purchasing an additional 460,174 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

NYSE:BABA opened at $112.73 on Wednesday. The stock has a 50 day simple moving average of $84.31 and a 200 day simple moving average of $79.02. The stock has a market cap of $286.05 billion, a P/E ratio of 26.28, a PEG ratio of 0.46 and a beta of 0.33. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $112.79. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

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

Wall Street Analyst Weigh In

Several analysts recently commented on BABA shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Susquehanna decreased their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Sanford C. Bernstein upped their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Three 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 stock has an average rating of “Moderate Buy” and a consensus price target of $107.61.

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.