China Universal Asset Management Co. Ltd. Lowers Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

China Universal Asset Management Co. Ltd. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 53,901 shares of the specialty retailer’s stock after selling 4,075 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Alibaba Group were worth $5,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Alibaba Group by 1.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,399 shares of the specialty retailer’s stock valued at $1,548,000 after purchasing an additional 241 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in Alibaba Group by 4.9% during the first quarter. Miracle Mile Advisors LLC now owns 10,817 shares of the specialty retailer’s stock valued at $783,000 after acquiring an additional 507 shares during the last quarter. Evolution Wealth Advisors LLC boosted its stake in Alibaba Group by 9.9% in the first quarter. Evolution Wealth Advisors LLC now owns 3,846 shares of the specialty retailer’s stock valued at $278,000 after acquiring an additional 345 shares in the last quarter. JTC Employer Solutions Trustee Ltd grew its holdings in Alibaba Group by 20.5% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 4,014 shares of the specialty retailer’s stock worth $287,000 after purchasing an additional 682 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Alibaba Group by 93.1% in the 1st quarter. Principal Financial Group Inc. now owns 41,129 shares of the specialty retailer’s stock worth $2,976,000 after purchasing an additional 19,832 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $99.95 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The business’s 50 day moving average price is $94.40 and its 200 day moving average price is $83.40. The company has a market cap of $253.62 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 0.55 and a beta of 0.35. Alibaba Group Holding Limited has a one year low of $66.63 and a one 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, topping analysts’ consensus estimates 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%. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 earnings per share. On average, research analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on BABA. Sanford C. Bernstein raised their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Robert W. Baird upped their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Loop Capital reissued a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Monday, October 7th. Finally, Barclays upped their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.00.

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.