Fisher Asset Management LLC Reduces Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Fisher Asset Management LLC reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,015,071 shares of the specialty retailer’s stock after selling 33,887 shares during the quarter. Fisher Asset Management LLC owned about 0.21% of Alibaba Group worth $532,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. Generate Investment Management Ltd purchased a new position in shares of Alibaba Group in the third quarter worth about $12,656,000. SRN Advisors LLC boosted its holdings in shares of Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 9,663 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after purchasing an additional 11,192 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares during the last quarter. Finally, United Advisor Group LLC purchased a new position in Alibaba Group during the third quarter worth approximately $631,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA opened at $83.13 on Monday. The firm has a market cap of $199.05 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.42 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $98.42 and its 200 day moving average price is $85.92. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 earnings per share. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BABA. Mizuho upped their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird boosted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Susquehanna cut 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. Finally, Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

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.