Summa Corp. Sells 13,340 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Summa Corp. decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,673 shares of the specialty retailer’s stock after selling 13,340 shares during the period. Alibaba Group makes up 2.3% of Summa Corp.’s portfolio, making the stock its 6th biggest position. Summa Corp.’s holdings in Alibaba Group were worth $4,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Concord Wealth Partners boosted its position in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the second quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group during the third quarter valued at $36,000. Decker Retirement Planning Inc. acquired a new stake in Alibaba Group during the fourth quarter valued at $31,000. Finally, Assetmark Inc. boosted its position in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Up 0.8 %

Alibaba Group stock opened at $96.76 on Thursday. The stock has a market cap of $230.17 billion, a P/E ratio of 19.63, a P/E/G ratio of 0.37 and a beta of 0.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $117.82. The company’s 50-day moving average price is $85.73 and its two-hundred day moving average price is $88.46.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to analysts’ expectations 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 was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. As a group, analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Citigroup lifted their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Bank of America lifted their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lifted their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.13.

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.