Essex Financial Services Inc. Has $1.69 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Essex Financial Services Inc. lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,826 shares of the specialty retailer’s stock after selling 1,631 shares during the quarter. Essex Financial Services Inc.’s holdings in Alibaba Group were worth $1,692,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Savant Capital LLC grew its position in Alibaba Group by 2.7% in the third quarter. Savant Capital LLC now owns 4,756 shares of the specialty retailer’s stock worth $413,000 after acquiring an additional 127 shares in the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Alibaba Group by 2.1% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 6,727 shares of the specialty retailer’s stock worth $584,000 after buying an additional 136 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Alibaba Group by 32.9% during the 3rd quarter. Clearstead Advisors LLC now owns 573 shares of the specialty retailer’s stock worth $50,000 after buying an additional 142 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Alibaba Group by 2.5% during the 4th quarter. Hexagon Capital Partners LLC now owns 6,664 shares of the specialty retailer’s stock worth $517,000 after buying an additional 164 shares during the period. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of Alibaba Group by 3.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 5,458 shares of the specialty retailer’s stock worth $473,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BABA. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, April 10th. Susquehanna reduced their price target on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 8th. Mizuho reissued a “buy” rating and issued a $95.00 price target on shares of Alibaba Group in a report on Wednesday, March 27th. The Goldman Sachs Group reduced their price target on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Finally, Citigroup reduced their price target on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.91.

Alibaba Group Trading Up 0.9 %

Shares of BABA stock opened at $75.50 on Thursday. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50. The stock has a market cap of $191.58 billion, a price-to-earnings ratio of 13.93 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a fifty day moving average of $73.28 and a 200-day moving average of $75.21.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 EPS. On average, equities research analysts forecast that Alibaba Group Holding Limited will post 7.54 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.