Financial Advocates Investment Management Decreases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Financial Advocates Investment Management lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,470 shares of the specialty retailer’s stock after selling 556 shares during the period. Financial Advocates Investment Management’s holdings in Alibaba Group were worth $1,258,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. First Command Advisory Services Inc. acquired a new position in Alibaba Group in the 2nd quarter worth about $25,000. GPS Wealth Strategies Group LLC increased its stake in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the period. EdgeRock Capital LLC acquired a new position in Alibaba Group in the 4th quarter valued at $26,000. Register Financial Advisors LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth $31,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Alibaba Group in the 4th quarter worth about $42,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 2.0 %

NYSE:BABA traded up $1.56 during mid-day trading on Thursday, hitting $81.18. The stock had a trading volume of 4,057,490 shares, compared to its average volume of 16,594,104. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $96.68. The stock has a 50-day simple moving average of $77.57 and a two-hundred day simple moving average of $76.46. The company has a market capitalization of $205.99 billion, a PE ratio of 18.84, a PEG ratio of 0.48 and a beta of 0.32.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the prior year, the company posted $2.47 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on BABA. Barclays cut their target price on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Citigroup reduced their price target on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Sanford C. Bernstein boosted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Finally, Mizuho decreased their price objective on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

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.