Meitav Dash Investments Ltd. Sells 6,422 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Meitav Dash Investments Ltd. reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABAGet Rating) by 5.8% during the first quarter, Holdings Channel reports. The institutional investor owned 104,564 shares of the specialty retailer’s stock after selling 6,422 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Alibaba Group were worth $11,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Alibaba Group by 74.1% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 235 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Arlington Partners LLC lifted its holdings in Alibaba Group by 35.1% in the first quarter. Arlington Partners LLC now owns 385 shares of the specialty retailer’s stock worth $42,000 after buying an additional 100 shares during the period. Laurel Wealth Advisors Inc. lifted its holdings in Alibaba Group by 6.6% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 1,687 shares of the specialty retailer’s stock worth $200,000 after buying an additional 104 shares during the period. North Star Investment Management Corp. lifted its holdings in Alibaba Group by 6.4% in the fourth quarter. North Star Investment Management Corp. now owns 1,819 shares of the specialty retailer’s stock worth $216,000 after buying an additional 109 shares during the period. Finally, Liberty One Investment Management LLC lifted its holdings in Alibaba Group by 1.7% in the first quarter. Liberty One Investment Management LLC now owns 6,646 shares of the specialty retailer’s stock worth $723,000 after buying an additional 111 shares during the period. 17.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BABA. Citigroup lowered their price objective on shares of Alibaba Group from $176.00 to $172.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. The Goldman Sachs Group raised their price objective on shares of Alibaba Group from $163.00 to $167.00 in a report on Monday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, July 5th. Truist Financial lifted their target price on shares of Alibaba Group from $132.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. Finally, Bank of America lowered their target price on shares of Alibaba Group from $162.00 to $155.00 and set a “buy” rating for the company in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $166.83.

Alibaba Group Stock Down 5.0 %

BABA opened at $92.56 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.66. Alibaba Group Holding Limited has a fifty-two week low of $73.28 and a fifty-two week high of $199.32. The firm’s fifty day moving average is $105.41 and its 200 day moving average is $104.62. The stock has a market cap of $245.11 billion, a price-to-earnings ratio of 51.42, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58.

Alibaba Group (NYSE:BABAGet Rating) last released its earnings results on Thursday, August 4th. The specialty retailer reported $11.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $10.23. Alibaba Group had a net margin of 3.69% and a return on equity of 9.90%. The company had revenue of $205.56 billion for the quarter, compared to analysts’ expectations of $203.80 billion. During the same quarter in the previous year, the company earned $2.16 EPS. Alibaba Group’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 6.34 earnings per share for the current fiscal year.

Alibaba Group Company Profile

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Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers 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.

Further Reading

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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