Asset Dedication LLC Sells 198 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Asset Dedication LLC trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 37.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329 shares of the specialty retailer’s stock after selling 198 shares during the quarter. Asset Dedication LLC’s holdings in Alibaba Group were worth $35,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BABA. Fiduciary Alliance LLC lifted its holdings in shares of Alibaba Group by 154.1% during the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after acquiring an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after purchasing an additional 139,134 shares in the last quarter. SRN Advisors LLC grew its stake in shares of Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares during the period. ORG Partners LLC raised its holdings in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after buying an additional 11,064 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted 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 buying an additional 50,000 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Down 2.1 %

Shares of NYSE BABA opened at $100.06 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $253.90 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The firm’s 50-day moving average is $91.85 and its 200-day moving average is $81.97. 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 issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the previous year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on BABA. Susquehanna dropped their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Barclays lifted their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus target price of $112.63.

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.