UG Investment Advisers Ltd. Cuts Position in Alibaba Group Holding Limited (NYSE:BABA)

UG Investment Advisers Ltd. decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 514,922 shares of the specialty retailer’s stock after selling 19,802 shares during the period. Alibaba Group makes up 20.5% of UG Investment Advisers Ltd.’s investment portfolio, making the stock its largest holding. UG Investment Advisers Ltd.’s holdings in Alibaba Group were worth $54,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its stake in Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after acquiring an additional 139,134 shares in the last quarter. Generate Investment Management Ltd purchased a new position in Alibaba Group in the third quarter worth about $12,656,000. SRN Advisors LLC raised its holdings in Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 9,663 shares during the last quarter. ORG Partners LLC raised its holdings in Alibaba Group by 52,685.7% in the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after buying an additional 11,064 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays lifted their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Bank of America lifted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Truist Financial decreased their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Robert W. Baird boosted their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $113.13.

Alibaba Group Stock Down 0.4 %

Shares of BABA stock opened at $97.57 on Friday. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The stock has a market cap of $233.67 billion, a P/E ratio of 25.54, a P/E/G ratio of 0.46 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $95.62 and a two-hundred day simple moving average of $83.99.

Alibaba Group (NYSE:BABA) last announced its earnings results 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 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the company earned $2.47 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Alibaba Group Holding Limited will post 8.08 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.