Sterneck Capital Management LLC Reduces Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Sterneck Capital Management LLC lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,345 shares of the specialty retailer’s stock after selling 3,709 shares during the quarter. Alibaba Group comprises 1.0% of Sterneck Capital Management LLC’s portfolio, making the stock its 25th largest position. Sterneck Capital Management LLC’s holdings in Alibaba Group were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group in the 2nd quarter worth approximately $27,000. Concord Wealth Partners raised its holdings in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in Alibaba Group during the third quarter valued at $36,000. Asset Dedication LLC boosted its holdings in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 400 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alibaba Group during the 2nd quarter valued at $38,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

NYSE BABA opened at $84.49 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The stock has a market capitalization of $201.51 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.44 and a beta of 0.30. The business’s fifty day moving average price is $88.51 and its 200-day moving average price is $87.36.

Alibaba Group (NYSE:BABA) last announced its 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. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same period last year, the firm posted $1.82 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Mizuho boosted their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Finally, StockNews.com cut Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus target price of $114.07.

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.