Independent Advisor Alliance Decreases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Independent Advisor Alliance reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,238 shares of the specialty retailer’s stock after selling 532 shares during the period. Independent Advisor Alliance’s holdings in Alibaba Group were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Primecap Management Co. CA raised its stake in shares of Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Alibaba Group by 1,392.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the last quarter. AMF Tjanstepension AB raised its stake in shares of Alibaba Group by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after buying an additional 178,999 shares during the last quarter. Eminence Capital LP raised its stake in shares of Alibaba Group by 9.0% during the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock worth $131,788,000 after buying an additional 150,488 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 1.7 %

NYSE BABA opened at $86.60 on Thursday. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a 50-day moving average of $98.51 and a 200-day moving average of $86.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $207.21 billion, a P/E ratio of 17.57, a P/E/G ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the prior year, the company posted $1.82 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on BABA shares. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Mizuho lifted their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Susquehanna cut their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Loop Capital reissued a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Robert W. Baird boosted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.07.

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.