MAI Capital Management Sells 14,373 Shares of Alibaba Group Holding Limited (NYSE:BABA)

MAI Capital Management reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 59.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,704 shares of the specialty retailer’s stock after selling 14,373 shares during the period. MAI Capital Management’s holdings in Alibaba Group were worth $1,030,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BABA. Concord Wealth Partners lifted its holdings in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group in the third quarter worth $36,000. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the second quarter worth $25,000. Finally, GPS Wealth Strategies Group LLC lifted its position in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Sanford C. Bernstein raised their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Susquehanna reduced their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Finally, StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $85.62 on Friday. The firm has a market capitalization of $205.01 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.43 and a beta of 0.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.41. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The company’s fifty day moving average price is $98.45 and its 200-day moving average price is $85.81.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 EPS. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

About Alibaba Group

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.