Red Door Wealth Management LLC Lowers Position in Alibaba Group Holding Ltd (NYSE:BABA)

Red Door Wealth Management LLC trimmed its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,914 shares of the specialty retailer’s stock after selling 64 shares during the quarter. Red Door Wealth Management LLC’s holdings in Alibaba Group were worth $561,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. JJJ Advisors Inc. raised its stake in shares of Alibaba Group by 180.0% during the 2nd quarter. JJJ Advisors Inc. now owns 140 shares of the specialty retailer’s stock worth $30,000 after buying an additional 90 shares during the period. Beese Fulmer Investment Management Inc. purchased a new position in shares of Alibaba Group during the 2nd quarter worth $36,000. Hoey Investments Inc. purchased a new position in Alibaba Group during the 2nd quarter valued at about $38,000. CX Institutional boosted its holdings in Alibaba Group by 500.0% during the 3rd quarter. CX Institutional now owns 150 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 125 shares during the period. Finally, Pinnacle Bank boosted its stake in shares of Alibaba Group by 144.8% in the 3rd quarter. Pinnacle Bank now owns 164 shares of the specialty retailer’s stock valued at $48,000 after buying an additional 97 shares during the period. 46.02% of the stock is owned by institutional investors and hedge funds.

Alibaba Group stock opened at $307.31 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.98 and a quick ratio of 1.98. Alibaba Group Holding Ltd has a 1-year low of $168.12 and a 1-year high of $310.01. The company has a market cap of $831.47 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50. The stock’s 50 day moving average price is $283.76 and its 200 day moving average price is $239.24.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $13.28. Alibaba Group had a return on equity of 14.13% and a net margin of 31.96%. The firm had revenue of $153.75 billion for the quarter, compared to the consensus estimate of $147.30 billion. During the same period in the previous year, the business earned $12.55 earnings per share. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. On average, equities research analysts anticipate that Alibaba Group Holding Ltd will post 7.57 EPS for the current fiscal year.

Several brokerages have recently issued reports on BABA. KeyCorp lifted their price objective on Alibaba Group from $295.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 1st. Truist lifted their price objective on Alibaba Group from $285.00 to $308.00 in a research note on Wednesday, September 30th. Loop Capital lifted their price objective on Alibaba Group from $280.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Oppenheimer reiterated a “buy” rating and issued a $290.00 price objective on shares of Alibaba Group in a research note on Tuesday, September 15th. Finally, Argus lifted their price objective on Alibaba Group from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Three investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $295.09.

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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