Alibaba Group Holding Limited (NYSE:BABA) Position Lessened by Sterling Investment Management LLC

Sterling Investment Management LLC reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,138 shares of the specialty retailer’s stock after selling 237 shares during the quarter. Alibaba Group comprises approximately 1.7% of Sterling Investment Management LLC’s holdings, making the stock its 20th largest position. Sterling Investment Management LLC’s holdings in Alibaba Group were worth $2,216,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group in the 2nd quarter worth approximately $27,000. Concord Wealth Partners lifted its position in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the period. Decker Retirement Planning Inc. bought a new position in Alibaba Group during the 4th quarter valued at $31,000. Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group during the 3rd quarter valued at $36,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alibaba Group in the 2nd quarter worth $38,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BABA. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Mizuho raised their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Barclays dropped their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Citigroup raised their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Stock Up 0.4 %

Alibaba Group stock opened at $85.42 on Wednesday. The company has a market capitalization of $203.45 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.45 and a beta of 0.30. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The firm’s fifty day simple moving average is $85.85 and its 200-day simple moving average is $87.93. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the prior year, the company posted $1.82 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

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.