Glassman Wealth Services Reduces Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Glassman Wealth Services lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 41.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 504 shares of the specialty retailer’s stock after selling 363 shares during the period. Glassman Wealth Services’ holdings in Alibaba Group were worth $39,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new stake in shares of Alibaba Group during the 3rd quarter valued at $26,000. GPS Wealth Strategies Group LLC increased its stake in shares of Alibaba Group by 116.7% during the third quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 216 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the 3rd quarter worth approximately $30,000. Finally, Milestone Investment Advisors LLC bought a new stake in Alibaba Group in the third quarter worth $31,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

BABA traded up $4.82 during midday trading on Thursday, reaching $80.33. The company had a trading volume of 36,425,035 shares, compared to its average volume of 17,998,086. The business has a 50-day moving average of $73.28 and a two-hundred day moving average of $75.21. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $102.50. The company has a market cap of $203.84 billion, a P/E ratio of 14.86 and a beta of 0.44.

Alibaba Group (NYSE:BABA) last released its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. Alibaba Group’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Mizuho reissued a “buy” rating and set a $95.00 price target on shares of Alibaba Group in a research report on Wednesday, March 27th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group lowered their price target on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. 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 company has an average rating of “Moderate Buy” and an average price target of $112.91.

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.