Douglas Lane & Associates LLC Sells 10,675 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Douglas Lane & Associates LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,348 shares of the specialty retailer’s stock after selling 10,675 shares during the period. Douglas Lane & Associates LLC’s holdings in Alibaba Group were worth $11,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group during the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC grew its stake in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group in the 2nd quarter worth $27,000. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at $31,000. Finally, Asset Dedication LLC lifted its holdings in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 400 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Loop Capital reissued a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $110.75.

Alibaba Group Stock Up 0.8 %

Shares of NYSE:BABA opened at $110.14 on Monday. The stock’s 50-day moving average is $89.88 and its 200 day moving average is $81.24. The company has a market cap of $279.48 billion, a PE ratio of 25.67, a P/E/G ratio of 0.55 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s 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. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

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.