RFG Advisory LLC Reduces Stake in Alibaba Group Holding Limited $BABA

RFG Advisory LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 48.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,494 shares of the specialty retailer’s stock after selling 2,371 shares during the quarter. RFG Advisory LLC’s holdings in Alibaba Group were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BABA. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group during the first quarter valued at approximately $26,000. Summit Securities Group LLC boosted its holdings in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. 1248 Management LLC bought a new position in shares of Alibaba Group in the first quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after buying an additional 196 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BABA shares. Sanford C. Bernstein boosted their target price on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. dropped their price target on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Wall Street Zen cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Barclays lifted their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Finally, Benchmark raised their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $188.06.

Alibaba Group Stock Up 1.2%

Shares of NYSE BABA opened at $167.03 on Monday. The stock has a market capitalization of $398.21 billion, a P/E ratio of 19.42, a PEG ratio of 2.23 and a beta of 0.18. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67. The firm’s 50 day simple moving average is $150.98 and its two-hundred day simple moving average is $128.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

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.