Focused Wealth Management Inc trimmed its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 17.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,361 shares of the specialty retailer’s stock after selling 3,348 shares during the period. Alibaba Group comprises about 0.8% of Focused Wealth Management Inc’s investment portfolio, making the stock its 19th biggest position. Focused Wealth Management Inc’s holdings in Alibaba Group were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of BABA. Cribstone Capital Management LLC acquired a new stake in shares of Alibaba Group during the 1st quarter valued at about $27,000. Archford Capital Strategies LLC boosted its position in shares of Alibaba Group by 80.4% during the 4th quarter. Archford Capital Strategies LLC now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Norway Savings Bank boosted its position in shares of Alibaba Group by 640.0% during the 4th quarter. Norway Savings Bank now owns 185 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 160 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Alibaba Group during the 1st quarter valued at about $34,000. Finally, Sontag Advisory LLC acquired a new stake in shares of Alibaba Group during the 4th quarter valued at about $27,000. Institutional investors own 40.49% of the company’s stock.
Several analysts have recently weighed in on the stock. Morgan Stanley set a $196.00 target price on shares of Alibaba Group and gave the company a “buy” rating in a research report on Tuesday, March 26th. SunTrust Banks reiterated a “buy” rating and set a $200.00 target price on shares of Alibaba Group in a research report on Wednesday. Zacks Investment Research lowered shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. KeyCorp reiterated an “overweight” rating and set a $240.00 target price (up from $210.00) on shares of Alibaba Group in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $180.00 target price (up from $175.00) on shares of Alibaba Group in a research report on Thursday, January 31st. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $212.96.
Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion for the quarter, compared to analyst estimates of $91.68 billion. Alibaba Group had a net margin of 19.87% and a return on equity of 12.44%. The company’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.73 earnings per share. Research analysts predict that Alibaba Group Holding Ltd will post 3.67 earnings per share for the current fiscal year.
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Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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