Toronto Dominion Bank Sells 88,619 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Toronto Dominion Bank reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 99.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 628 shares of the specialty retailer’s stock after selling 88,619 shares during the quarter. Toronto Dominion Bank’s holdings in Alibaba Group were worth $67,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BABA. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group during the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group in the 2nd quarter valued at approximately $27,000. Concord Wealth Partners raised its holdings in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 155 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group in the 3rd quarter worth approximately $36,000. Finally, Asset Dedication LLC grew its holdings in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BABA has been the subject of several research reports. StockNews.com cut Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Monday, October 7th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Finally, Bank of America increased their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Down 2.0 %

Shares of NYSE BABA opened at $86.03 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a market cap of $205.59 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The firm’s 50-day simple moving average is $94.19 and its 200 day simple moving average is $86.43.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. Alibaba Group’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Alibaba Group Company 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.