Huntington National Bank Trims Stock Position in Alibaba Group Holding Ltd (NYSE:BABA)

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Huntington National Bank reduced its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,609 shares of the specialty retailer’s stock after selling 1,030 shares during the quarter. Huntington National Bank’s holdings in Alibaba Group were worth $3,799,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BABA. Nkcfo LLC purchased a new position in Alibaba Group during the 1st quarter valued at $29,000. JJJ Advisors Inc. grew its position in shares of Alibaba Group by 180.0% in the 2nd quarter. JJJ Advisors Inc. now owns 140 shares of the specialty retailer’s stock worth $30,000 after buying an additional 90 shares during the period. Baystate Wealth Management LLC purchased a new stake in shares of Alibaba Group in the 1st quarter worth about $34,000. Beese Fulmer Investment Management Inc. purchased a new stake in shares of Alibaba Group in the 2nd quarter worth about $36,000. Finally, Hoey Investments Inc. purchased a new stake in shares of Alibaba Group in the 2nd quarter worth about $38,000. 47.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:BABA opened at $251.02 on Friday. The firm’s 50 day moving average price is $235.83 and its 200-day moving average price is $213.64. Alibaba Group Holding Ltd has a twelve month low of $151.85 and a twelve month high of $268.00. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $638.69 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, May 22nd. The specialty retailer reported $9.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $8.61. Alibaba Group had a net margin of 29.16% and a return on equity of 14.56%. The firm had revenue of $114.31 billion for the quarter, compared to analysts’ expectations of $108.31 billion. During the same quarter in the prior year, the business earned $8.57 EPS. The business’s quarterly revenue was up 22.3% on a year-over-year basis. Analysts expect that Alibaba Group Holding Ltd will post 6.91 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Alibaba Group from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, June 19th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $276.00 target price on shares of Alibaba Group in a research report on Tuesday, July 7th. Nomura Instinet increased their price objective on shares of Alibaba Group from $240.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Royal Bank of Canada increased their price objective on shares of Alibaba Group from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Finally, Citigroup reissued a “buy” rating and set a $316.00 price objective on shares of Alibaba Group in a research report on Friday, July 10th. Three research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $256.38.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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