Los Angeles Capital Management & Equity Research Inc. Decreases Stock Position in Alibaba Group Holding Ltd (NYSE:BABA)

Los Angeles Capital Management & Equity Research Inc. reduced its position in Alibaba Group Holding Ltd (NYSE:BABA) by 13.5% in the second quarter, Holdings Channel.com reports. The fund owned 742,397 shares of the specialty retailer’s stock after selling 115,400 shares during the period. Alibaba Group makes up about 0.7% of Los Angeles Capital Management & Equity Research Inc.’s investment portfolio, making the stock its 20th largest position. Los Angeles Capital Management & Equity Research Inc.’s holdings in Alibaba Group were worth $125,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BABA. Arthur M. Cohen & Associates LLC grew its position in Alibaba Group by 41.2% in the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 3,000 shares of the specialty retailer’s stock worth $508,000 after purchasing an additional 875 shares during the period. Johanson Financial Advisors Inc. grew its position in Alibaba Group by 2.5% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 12,165 shares of the specialty retailer’s stock worth $2,060,000 after purchasing an additional 300 shares during the period. Segment Wealth Management LLC grew its position in Alibaba Group by 12.2% in the 2nd quarter. Segment Wealth Management LLC now owns 2,469 shares of the specialty retailer’s stock worth $418,000 after purchasing an additional 269 shares during the period. Ironwood Investment Counsel LLC grew its position in Alibaba Group by 11.9% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 1,408 shares of the specialty retailer’s stock worth $238,000 after purchasing an additional 150 shares during the period. Finally, Bray Capital Advisors grew its position in Alibaba Group by 7.7% in the 2nd quarter. Bray Capital Advisors now owns 6,095 shares of the specialty retailer’s stock worth $1,033,000 after purchasing an additional 435 shares during the period. Institutional investors own 40.84% of the company’s stock.

A number of research firms have commented on BABA. Mizuho lifted their target price on shares of Alibaba Group from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Zacks Investment Research raised shares of Alibaba Group from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. UBS Group set a $210.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a research report on Tuesday, June 11th. TH Capital lifted their target price on shares of Alibaba Group from $180.00 to $220.00 in a research report on Monday, May 13th. Finally, Raymond James cut their target price on shares of Alibaba Group from $285.00 to $280.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 16th. One analyst has rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $218.48.

Alibaba Group stock traded down $2.33 during mid-day trading on Friday, hitting $159.89. The stock had a trading volume of 8,104,879 shares, compared to its average volume of 18,827,298. The stock has a market cap of $400.56 billion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 1.17 and a beta of 2.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.30 and a quick ratio of 1.30. The company has a 50 day moving average of $170.32. Alibaba Group Holding Ltd has a one year low of $129.77 and a one year high of $195.72.

Alibaba Group (NYSE:BABA) last issued its earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share for the quarter, topping the consensus estimate of $0.75 by $7.82. The company had revenue of $93.50 billion during the quarter, compared to the consensus estimate of $91.68 billion. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. Alibaba Group’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.73 EPS. On average, research analysts predict that Alibaba Group Holding Ltd will post 5.03 earnings per share for the current year.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, 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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