Alibaba Group Holding Limited $BABA Shares Sold by Wedmont Private Capital

Wedmont Private Capital reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,826 shares of the specialty retailer’s stock after selling 148 shares during the period. Wedmont Private Capital’s holdings in Alibaba Group were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the first quarter valued at approximately $26,000. Summit Securities Group LLC increased its stake in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in Alibaba Group in the 1st quarter valued at approximately $26,000. 1248 Management LLC acquired a new position in Alibaba Group in the 1st quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 196 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BABA has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Robert W. Baird upped their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Wednesday, September 3rd. Zacks Research raised shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Jefferies Financial Group upped their price objective on shares of Alibaba Group from $165.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $168.81.

Alibaba Group Trading Up 0.2%

BABA opened at $162.78 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $388.08 billion, a PE ratio of 18.93, a PEG ratio of 2.00 and a beta of 0.11. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $167.32. The firm has a 50-day moving average price of $128.92 and a two-hundred day moving average price of $123.37.

About Alibaba Group

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.