Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by MAI Capital Management

MAI Capital Management decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 59.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,704 shares of the specialty retailer’s stock after selling 14,373 shares during the period. MAI Capital Management’s holdings in Alibaba Group were worth $1,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BABA. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group during the second quarter worth $25,000. GPS Wealth Strategies Group LLC increased its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group in the second quarter worth approximately $27,000. Concord Wealth Partners boosted its holdings in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter valued at $36,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 1.3 %

Shares of NYSE:BABA opened at $85.62 on Friday. The company has a 50 day moving average price of $98.45 and a 200 day moving average price of $85.81. The stock has a market capitalization of $205.01 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.43 and a beta of 0.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.37. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same period in the previous year, the business earned $1.82 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America lifted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average price target of $114.07.

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.