Summa Corp. Sells 13,340 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Summa Corp. lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,673 shares of the specialty retailer’s stock after selling 13,340 shares during the period. Alibaba Group accounts for 2.3% of Summa Corp.’s holdings, making the stock its 6th biggest holding. Summa Corp.’s holdings in Alibaba Group were worth $4,721,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BABA. Milestone Asset Management LLC increased its stake in Alibaba Group by 108.6% in the fourth quarter. Milestone Asset Management LLC now owns 39,639 shares of the specialty retailer’s stock valued at $3,361,000 after purchasing an additional 20,635 shares in the last quarter. UG Investment Advisers Ltd. boosted its holdings in Alibaba Group by 53.7% during the fourth quarter. UG Investment Advisers Ltd. now owns 791,239 shares of the specialty retailer’s stock worth $67,089,000 after purchasing an additional 276,317 shares during the last quarter. Tamar Securities LLC boosted its holdings in Alibaba Group by 4.4% during the fourth quarter. Tamar Securities LLC now owns 149,795 shares of the specialty retailer’s stock worth $12,701,000 after purchasing an additional 6,279 shares during the last quarter. Nilsine Partners LLC boosted its holdings in Alibaba Group by 3.6% during the fourth quarter. Nilsine Partners LLC now owns 11,332 shares of the specialty retailer’s stock worth $961,000 after purchasing an additional 391 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in Alibaba Group by 21.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer’s stock worth $13,180,000 after purchasing an additional 27,088 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 0.8 %

NYSE:BABA opened at $96.76 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $85.73 and a 200-day moving average price of $88.46. The stock has a market cap of $230.17 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 0.37 and a beta of 0.30. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $117.82.

Alibaba Group (NYSE:BABA) last issued 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. The company had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Alibaba Group’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.82 EPS. Equities analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Wall Street Analyst Weigh In

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

About Alibaba Group

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.