Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Quilter Plc

Quilter Plc decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 22.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,489 shares of the specialty retailer’s stock after selling 10,346 shares during the period. Quilter Plc’s holdings in Alibaba Group were worth $2,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BABA. Fiduciary Alliance LLC raised its holdings in shares of Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after buying an additional 33,490 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after acquiring an additional 139,134 shares during the period. SRN Advisors LLC grew its stake in shares of Alibaba Group by 76.7% in the first 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 in the last quarter. ORG Partners LLC increased its holdings in shares of Alibaba Group by 52,685.7% during the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after purchasing an additional 11,064 shares during the period. Finally, Leo Wealth LLC bought a new stake in shares of Alibaba Group during the fourth quarter valued at about $1,734,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BABA. Susquehanna lowered their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Loop Capital reiterated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Sanford C. Bernstein lifted their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Finally, Truist Financial cut their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Stock Performance

Alibaba Group stock opened at $84.69 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $214.90 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $90.46. The firm’s 50 day simple moving average is $79.86 and its 200-day simple moving average is $77.21.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

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.