Stratos Wealth Partners LTD. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 18.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,548 shares of the specialty retailer’s stock after selling 2,565 shares during the period. Stratos Wealth Partners LTD.’s holdings in Alibaba Group were worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley raised its position in shares of Alibaba Group by 1.1% in the 4th quarter. Morgan Stanley now owns 12,815,514 shares of the specialty retailer’s stock worth $1,128,919,000 after acquiring an additional 142,563 shares in the last quarter. Bank of America Corp DE raised its position in shares of Alibaba Group by 5.9% in the 4th quarter. Bank of America Corp DE now owns 7,964,910 shares of the specialty retailer’s stock worth $701,629,000 after acquiring an additional 447,099 shares in the last quarter. Segantii Capital Management Ltd grew its stake in Alibaba Group by 261.3% during the 4th quarter. Segantii Capital Management Ltd now owns 4,467,873 shares of the specialty retailer’s stock worth $395,253,000 after buying an additional 3,231,343 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Alibaba Group by 53.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,408,615 shares of the specialty retailer’s stock worth $388,355,000 after buying an additional 1,527,808 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its stake in Alibaba Group by 108,264.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,711,488 shares of the specialty retailer’s stock worth $326,945,000 after buying an additional 3,708,063 shares during the last quarter. 13.33% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
BABA has been the topic of several research analyst reports. Robert W. Baird dropped their target price on Alibaba Group from $120.00 to $115.00 in a research note on Friday, May 19th. Bank of America boosted their target price on Alibaba Group from $132.00 to $137.00 in a research note on Wednesday, July 12th. Sanford C. Bernstein downgraded Alibaba Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $98.00 in a research note on Tuesday, June 27th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Loop Capital increased their price objective on Alibaba Group from $130.00 to $135.00 in a report on Tuesday, June 20th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $141.07.
Alibaba Group Stock Down 1.2 %
Alibaba Group (NYSE:BABA – Get Free Report) last issued its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.23. The company had revenue of $30.32 billion for the quarter, compared to the consensus estimate of $30.35 billion. Alibaba Group had a return on equity of 10.79% and a net margin of 8.50%. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 6.47 earnings per share for the current 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.
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