Wealth Alliance Has $726,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Wealth Alliance cut its stake in Alibaba Group Holding Limited (NYSE:BABA) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,559 shares of the specialty retailer’s stock after selling 690 shares during the period. Wealth Alliance’s holdings in Alibaba Group were worth $726,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Concord Wealth Partners increased its holdings in Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in Alibaba Group during the 4th quarter valued at $31,000. Sierra Ocean LLC acquired a new stake in Alibaba Group during the 4th quarter valued at $32,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group during the 3rd quarter valued at $36,000. Finally, Assetmark Inc. increased its holdings in Alibaba Group by 225.4% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BABA has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Citigroup lifted their target price on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays reduced their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Mizuho raised their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.93.

Alibaba Group Price Performance

NYSE:BABA opened at $136.26 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50-day simple moving average is $94.31 and its 200 day simple moving average is $92.42. The company has a market cap of $323.74 billion, a P/E ratio of 27.64, a P/E/G ratio of 0.54 and a beta of 0.31. Alibaba Group Holding Limited has a 52-week low of $68.36 and a 52-week high of $144.51.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. As a group, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Alibaba Group 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.