New York State Common Retirement Fund Decreases Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

New York State Common Retirement Fund cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 35.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,731 shares of the specialty retailer’s stock after selling 173,379 shares during the period. New York State Common Retirement Fund’s holdings in Alibaba Group were worth $24,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new position in Alibaba Group in the 3rd quarter valued at about $26,000. GPS Wealth Strategies Group LLC lifted its holdings in Alibaba Group by 116.7% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Baystate Wealth Management LLC lifted its holdings in Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group during the 3rd quarter worth about $30,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Alibaba Group during the 3rd quarter worth about $31,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 0.6 %

Shares of NYSE:BABA opened at $75.55 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50. The company has a 50 day moving average of $73.19 and a two-hundred day moving average of $75.50. The company has a market capitalization of $191.70 billion, a price-to-earnings ratio of 13.94 and a beta of 0.46.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. During the same period last year, the business earned $2.44 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BABA. Citigroup cut their price objective on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, April 10th. The Goldman Sachs Group cut their price objective on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Macquarie lowered shares of Alibaba Group from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $88.50 to $85.40 in a report on Thursday, February 8th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.91.

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.