abrdn plc Has $951,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

abrdn plc lessened its position in Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 96.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,562 shares of the specialty retailer’s stock after selling 206,950 shares during the period. abrdn plc’s holdings in Alibaba Group were worth $951,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Lyell Wealth Management LP boosted its position in shares of Alibaba Group by 13.4% during the first quarter. Lyell Wealth Management LP now owns 2,085 shares of the specialty retailer’s stock valued at $227,000 after buying an additional 246 shares during the last quarter. Sierra Capital LLC boosted its position in shares of Alibaba Group by 6.4% during the first quarter. Sierra Capital LLC now owns 14,165 shares of the specialty retailer’s stock valued at $1,541,000 after buying an additional 846 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of Alibaba Group during the first quarter valued at approximately $847,000. Liberty One Investment Management LLC boosted its position in shares of Alibaba Group by 1.7% during the first quarter. Liberty One Investment Management LLC now owns 6,646 shares of the specialty retailer’s stock valued at $723,000 after buying an additional 111 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. boosted its position in shares of Alibaba Group by 26.0% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,505 shares of the specialty retailer’s stock valued at $164,000 after buying an additional 311 shares during the last quarter. Institutional investors and hedge funds own 17.39% of the company’s stock.

Alibaba Group Stock Performance

NYSE:BABA opened at $92.62 on Wednesday. Alibaba Group Holding Limited has a 52-week low of $73.28 and a 52-week high of $203.27. The business’s fifty day moving average is $105.10 and its 200 day moving average is $105.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $245.27 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.50 and a beta of 0.58.

Alibaba Group (NYSE:BABA – Get Rating) last posted its earnings results on Thursday, May 26th. The specialty retailer reported $1.45 EPS for the quarter, topping the consensus estimate of $0.67 by $0.78. Alibaba Group had a return on equity of 11.17% and a net margin of 6.35%. The business had revenue of $204.05 billion during the quarter, compared to analysts’ expectations of $199.43 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Research analysts predict that Alibaba Group Holding Limited will post 6.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird cut their target price on Alibaba Group from $160.00 to $144.00 and set an “outperform” rating on the stock in a research report on Monday, May 23rd. JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 5th. Barclays cut their price objective on Alibaba Group from $170.00 to $161.00 and set an “overweight” rating on the stock in a research report on Friday, May 27th. Mizuho cut their price objective on Alibaba Group from $180.00 to $160.00 in a research report on Monday, May 2nd. Finally, The Goldman Sachs Group boosted their price objective on Alibaba Group from $163.00 to $167.00 in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus target price of $183.61.

Alibaba Group Company Profile

(Get Rating)

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.