Capital Wealth Alliance LLC Reduces Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Capital Wealth Alliance LLC trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 9.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,219 shares of the specialty retailer’s stock after selling 230 shares during the quarter. Capital Wealth Alliance LLC’s holdings in Alibaba Group were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BABA. State Street Corp increased its holdings in shares of Alibaba Group by 6.7% in the 1st quarter. State Street Corp now owns 37,975,313 shares of the specialty retailer’s stock valued at $7,385,439,000 after acquiring an additional 2,368,050 shares during the last quarter. Morgan Stanley increased its holdings in shares of Alibaba Group by 31.9% in the 1st quarter. Morgan Stanley now owns 18,356,646 shares of the specialty retailer’s stock valued at $3,569,998,000 after acquiring an additional 4,443,526 shares during the last quarter. AXA boosted its position in Alibaba Group by 1.7% during the 1st quarter. AXA now owns 1,938,635 shares of the specialty retailer’s stock valued at $377,026,000 after purchasing an additional 31,575 shares during the period. Modus Advisors LLC boosted its position in Alibaba Group by 53.9% during the 2nd quarter. Modus Advisors LLC now owns 2,611 shares of the specialty retailer’s stock valued at $563,000 after purchasing an additional 914 shares during the period. Finally, Red Spruce Capital LLC boosted its position in Alibaba Group by 3.6% during the 2nd quarter. Red Spruce Capital LLC now owns 8,842 shares of the specialty retailer’s stock valued at $1,907,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 46.02% of the company’s stock.

A number of research analysts recently issued reports on BABA shares. Stifel Nicolaus restated a “buy” rating and set a $330.00 price objective on shares of Alibaba Group in a research report on Tuesday. Truist boosted their price objective on Alibaba Group from $285.00 to $308.00 in a research report on Wednesday, September 30th. Nomura restated a “buy” rating and set a $309.00 price objective on shares of Alibaba Group in a research report on Sunday, August 23rd. Benchmark boosted their price target on Alibaba Group from $290.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Finally, Citigroup reiterated a “buy” rating and set a $316.00 price target on shares of Alibaba Group in a research report on Friday, July 10th. Three research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $297.83.

Shares of Alibaba Group stock opened at $317.14 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a 12-month low of $169.95 and a 12-month high of $319.32. The firm has a market capitalization of $858.07 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.50. The stock’s fifty day moving average is $288.34 and its 200-day moving average is $245.67.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 quarter in the previous year, the company earned $12.55 EPS. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts expect that Alibaba Group Holding Limited will post 7.58 EPS for the current year.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through 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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