Ridgewood Investments LLC Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Ridgewood Investments LLC decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,703 shares of the specialty retailer’s stock after selling 1,518 shares during the period. Alibaba Group accounts for 0.8% of Ridgewood Investments LLC’s holdings, making the stock its 24th biggest position. Ridgewood Investments LLC’s holdings in Alibaba Group were worth $1,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. ICA Group Wealth Management LLC raised its holdings in shares of Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after buying an additional 128 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after buying an additional 154 shares during the last quarter. EPIQ Capital Group LLC raised its holdings in shares of Alibaba Group by 0.3% in the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after buying an additional 157 shares during the last quarter. Evolution Wealth Advisors LLC raised its holdings in shares of Alibaba Group by 4.1% in the second quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock worth $288,000 after buying an additional 158 shares during the last quarter. Finally, WNY Asset Management LLC raised its holdings in shares of Alibaba Group by 2.8% in the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock worth $436,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 1.5 %

Alibaba Group stock traded up $1.69 during mid-day trading on Friday, reaching $114.53. 25,699,080 shares of the company’s stock were exchanged, compared to its average volume of 17,586,789. The company has a market cap of $290.62 billion, a P/E ratio of 26.70, a P/E/G ratio of 0.46 and a beta of 0.35. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $116.57. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $86.60 and a 200-day moving average of $79.79.

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. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $2.47 EPS. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Bank of America raised their target price on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group reissued a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Finally, Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently 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.