M&G Plc Reduces Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

M&G Plc trimmed its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,031 shares of the specialty retailer’s stock after selling 45,631 shares during the period. M&G Plc’s holdings in Alibaba Group were worth $36,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Alibaba Group by 168.6% in the fourth quarter. International Assets Investment Management LLC now owns 10,245 shares of the specialty retailer’s stock valued at $794,000 after buying an additional 6,431 shares during the last quarter. Sandy Spring Bank increased its stake in shares of Alibaba Group by 25.8% in the fourth quarter. Sandy Spring Bank now owns 1,122 shares of the specialty retailer’s stock valued at $87,000 after purchasing an additional 230 shares during the period. Cerity Partners LLC raised its holdings in shares of Alibaba Group by 299.9% during the fourth quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer’s stock valued at $6,428,000 after buying an additional 62,163 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Alibaba Group during the fourth quarter valued at approximately $232,000. Finally, Baystate Wealth Management LLC grew its holdings in Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after buying an additional 216 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Up 0.2 %

Alibaba Group stock traded up $0.19 during mid-day trading on Tuesday, hitting $81.10. The company’s stock had a trading volume of 9,246,089 shares, compared to its average volume of 16,550,961. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $96.68. The firm’s 50 day moving average is $76.50 and its 200 day moving average is $75.77. The company has a market cap of $205.79 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 0.48 and a beta of 0.32.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. The business had revenue of $30.73 billion for the quarter, compared to the consensus estimate of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. On average, analysts anticipate that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Barclays cut their target price on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, May 15th. Finally, Mizuho dropped their price target on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.09.

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.