Meitav Dash Investments Ltd. Lowers Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Posted by Matthew Steigler on Aug 6th, 2022

Meitav Dash Investments Ltd. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,564 shares of the specialty retailer’s stock after selling 6,422 shares during the period. Meitav Dash Investments Ltd.’s holdings in Alibaba Group were worth $11,395,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp increased its position in Alibaba Group by 116.8% during the first quarter. SouthState Corp now owns 232 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Chilton Capital Management LLC purchased a new position in Alibaba Group during the fourth quarter worth about $28,000. Global Wealth Management Investment Advisory Inc. boosted its stake in Alibaba Group by 74.1% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 235 shares of the specialty retailer’s stock worth $28,000 after buying an additional 100 shares during the period. Steward Financial Group LLC purchased a new position in Alibaba Group during the fourth quarter worth about $30,000. Finally, Moisand Fitzgerald Tamayo LLC boosted its stake in Alibaba Group by 167.3% during the first quarter. Moisand Fitzgerald Tamayo LLC now owns 294 shares of the specialty retailer’s stock worth $32,000 after buying an additional 184 shares during the period. 17.39% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 5.0 %

BABA stock opened at $92.56 on Friday. Alibaba Group Holding Limited has a twelve month low of $73.28 and a twelve month high of $199.32. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $245.11 billion, a P/E ratio of 51.42, a PEG ratio of 1.64 and a beta of 0.58. The firm has a 50 day simple moving average of $105.41 and a 200-day simple moving average of $104.62.

Alibaba Group (NYSE:BABA – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The specialty retailer reported $11.73 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $10.23. The firm had revenue of $205.56 billion during the quarter, compared to the consensus estimate of $203.80 billion. Alibaba Group had a net margin of 3.69% and a return on equity of 9.90%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 earnings per share. On average, equities research analysts predict that Alibaba Group Holding Limited will post 6.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on BABA shares. Citigroup reduced their target price on shares of Alibaba Group from $176.00 to $172.00 and set a “buy” rating on the stock in a report on Tuesday, July 5th. HSBC reduced their target price on shares of Alibaba Group from $146.00 to $141.00 and set a “buy” rating on the stock in a report on Tuesday, July 5th. Mizuho reduced their target price on shares of Alibaba Group from $180.00 to $160.00 in a report on Monday, May 2nd. Robert W. Baird reduced their target price on shares of Alibaba Group from $160.00 to $144.00 and set an “outperform” rating on the stock in a report on Monday, May 23rd. Finally, Barclays reduced their target price on shares of Alibaba Group from $170.00 to $161.00 and set an “overweight” rating on the stock in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.83.

Alibaba Group Profile

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Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.