HighTower Advisors LLC Cuts Stock Position in Alibaba Group Holding Ltd (NYSE:BABA)

HighTower Advisors LLC decreased its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 2.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 219,280 shares of the specialty retailer’s stock after selling 6,532 shares during the period. HighTower Advisors LLC’s holdings in Alibaba Group were worth $42,718,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nkcfo LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $29,000. Baystate Wealth Management LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $34,000. MBM Wealth Consultants LLC purchased a new stake in shares of Alibaba Group during the fourth quarter worth about $42,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in Alibaba Group in the fourth quarter valued at approximately $42,000. Finally, Capital Square LLC purchased a new stake in Alibaba Group in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

BABA has been the topic of a number of recent research reports. UBS Group dropped their target price on Alibaba Group from $275.00 to $265.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Nomura upped their target price on Alibaba Group from $240.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. SunTrust Banks reiterated a “buy” rating and issued a $250.00 target price on shares of Alibaba Group in a research report on Sunday, May 24th. Bank of America reiterated a “buy” rating and issued a $241.00 target price (down previously from $250.00) on shares of Alibaba Group in a research report on Tuesday, May 26th. Finally, KeyCorp upped their target price on Alibaba Group from $248.00 to $255.00 in a research report on Sunday, April 19th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Alibaba Group presently has a consensus rating of “Buy” and an average price target of $246.10.

NYSE:BABA traded up $7.34 during mid-day trading on Tuesday, reaching $228.75. 17,541,419 shares of the stock were exchanged, compared to its average volume of 17,271,290. The company has a 50 day simple moving average of $209.50 and a 200-day simple moving average of $207.78. The stock has a market capitalization of $582.03 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.77 and a beta of 1.58. The company has a quick ratio of 1.75, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. Alibaba Group Holding Ltd has a 1 year low of $151.85 and a 1 year high of $231.14.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, May 22nd. The specialty retailer reported $9.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $8.61. The firm had revenue of $114.31 billion for the quarter, compared to the consensus estimate of $108.31 billion. Alibaba Group had a return on equity of 14.56% and a net margin of 29.16%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $8.57 EPS. As a group, research analysts predict that Alibaba Group Holding Ltd will post 6.94 EPS for the current year.

About Alibaba Group

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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