Pinnacle Associates Ltd. Cuts Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Pinnacle Associates Ltd. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,878 shares of the specialty retailer’s stock after selling 435 shares during the period. Pinnacle Associates Ltd.’s holdings in Alibaba Group were worth $378,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Savant Capital LLC raised its holdings in Alibaba Group by 2.7% during the third quarter. Savant Capital LLC now owns 4,756 shares of the specialty retailer’s stock worth $413,000 after purchasing an additional 127 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in Alibaba Group by 2.1% during the third quarter. Johnson Investment Counsel Inc. now owns 6,727 shares of the specialty retailer’s stock worth $584,000 after purchasing an additional 136 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Alibaba Group by 4.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 3,170 shares of the specialty retailer’s stock worth $275,000 after purchasing an additional 140 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Alibaba Group by 32.9% during the third quarter. Clearstead Advisors LLC now owns 573 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 142 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Alibaba Group by 6.1% during the third quarter. Advisors Asset Management Inc. now owns 2,464 shares of the specialty retailer’s stock worth $214,000 after purchasing an additional 142 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BABA shares. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their target price on shares of Alibaba Group from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. The Goldman Sachs Group dropped their target price on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Benchmark dropped their target price on shares of Alibaba Group from $150.00 to $128.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Finally, Macquarie cut shares of Alibaba Group from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $88.50 to $85.40 in a report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.44.

Read Our Latest Research Report on Alibaba Group

Alibaba Group Stock Down 0.6 %

BABA stock opened at $72.45 on Thursday. The stock has a market capitalization of $183.84 billion, a P/E ratio of 13.34 and a beta of 0.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $103.24. The company has a 50 day moving average price of $73.67 and a two-hundred day moving average price of $77.10.

Alibaba Group (NYSE:BABAGet Free Report) last released its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing the consensus estimate of $19.12 by ($0.15). The firm had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.97 EPS for the current year.

Alibaba Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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