Means Investment CO. Inc. Reduces Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Means Investment CO. Inc. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,382 shares of the specialty retailer’s stock after selling 1,969 shares during the quarter. Means Investment CO. Inc.’s holdings in Alibaba Group were worth $1,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. EdgeRock Capital LLC bought a new stake in Alibaba Group during the fourth quarter valued at about $26,000. GPS Wealth Strategies Group LLC grew its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the period. Register Financial Advisors LLC purchased a new stake in Alibaba Group in the 1st quarter worth approximately $31,000. ICA Group Wealth Management LLC bought a new stake in Alibaba Group during the 4th quarter worth approximately $42,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in Alibaba Group during the fourth quarter valued at approximately $44,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 0.9 %

BABA stock traded up $0.73 during midday trading on Monday, reaching $83.91. 14,714,922 shares of the company traded hands, compared to its average volume of 16,698,951. The firm has a market capitalization of $212.92 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79. The business has a 50 day moving average of $76.63 and a 200-day moving average of $75.99. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $96.68.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 EPS. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Loop Capital raised their price target on Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Robert W. Baird upped their price objective on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday. Mizuho decreased their target price on Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, Sanford C. Bernstein upped their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $107.32.

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.