Channing Global Advisors LLC Sells 963 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Channing Global Advisors LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,278 shares of the specialty retailer’s stock after selling 963 shares during the period. Alibaba Group accounts for about 1.4% of Channing Global Advisors LLC’s holdings, making the stock its 22nd largest holding. Channing Global Advisors LLC’s holdings in Alibaba Group were worth $1,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its holdings in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after acquiring an additional 121 shares during the last quarter. ICA Group Wealth Management LLC raised its stake in shares of Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Alibaba Group by 3.0% during the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after buying an additional 143 shares during the last quarter. Finally, Concord Wealth Partners increased 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 worth $27,000 after buying an additional 155 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE BABA opened at $86.59 on Friday. The stock has a market cap of $207.18 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 0.43 and a beta of 0.35. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company’s 50 day moving average is $98.47 and its two-hundred day moving average is $86.01. 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 announced its quarterly earnings data 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 firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same period last year, the firm earned $1.82 EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BABA. Robert W. Baird upped their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial lowered their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Susquehanna dropped their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Mizuho raised their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

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.