Balboa Wealth Partners Sells 1,937 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Balboa Wealth Partners lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 19.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,925 shares of the specialty retailer’s stock after selling 1,937 shares during the quarter. Balboa Wealth Partners’ holdings in Alibaba Group were worth $841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BABA. Venturi Wealth Management LLC grew its position in shares of Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after acquiring an additional 121 shares during the period. ICA Group Wealth Management LLC boosted its stake in shares of Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 128 shares during the period. Cornerstone Wealth Management LLC increased its holdings in shares of Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Alibaba Group by 3.0% in the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after purchasing an additional 143 shares during the last quarter. Finally, Concord Wealth Partners raised its position in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

NYSE:BABA opened at $90.54 on Friday. The stock’s 50-day moving average is $97.87 and its 200-day moving average is $85.44. The stock has a market cap of $216.79 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Robert W. Baird lifted their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research report on Monday, October 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Profile

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.