Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Alibaba Group Holding Limited $BABA

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 13.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,915 shares of the specialty retailer’s stock after selling 6,182 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Alibaba Group were worth $4,527,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC lifted its holdings in Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Alibaba Group during the first quarter valued at $26,000. 1248 Management LLC purchased a new position in Alibaba Group during the first quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton purchased a new position in Alibaba Group during the second quarter valued at $26,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

NYSE:BABA opened at $179.81 on Thursday. The company’s 50-day moving average price is $159.30 and its 200-day moving average price is $132.46. 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 company has a market cap of $429.03 billion, a P/E ratio of 20.91, a P/E/G ratio of 2.36 and a beta of 0.18. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Benchmark increased their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. CLSA increased their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Mizuho set a $195.00 price objective on shares of Alibaba Group in a report on Wednesday, October 22nd. Finally, Robert W. Baird increased their price objective on shares of Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

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.