Salem Investment Counselors Inc. Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Salem Investment Counselors Inc. trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 60.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,860 shares of the specialty retailer’s stock after selling 9,042 shares during the period. Salem Investment Counselors Inc.’s holdings in Alibaba Group were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in Alibaba Group by 13.8% in the 3rd quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock valued at $1,007,058,000 after buying an additional 1,406,491 shares during the last quarter. Sanders Capital LLC boosted its position in Alibaba Group by 322.7% in the 3rd quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock valued at $1,303,636,000 after buying an additional 11,473,618 shares during the last quarter. Fiduciary Alliance LLC boosted its position in Alibaba Group by 27.1% in the 3rd quarter. Fiduciary Alliance LLC now owns 14,275 shares of the specialty retailer’s stock valued at $1,238,000 after buying an additional 3,040 shares during the last quarter. Certuity LLC lifted its position in shares of Alibaba Group by 122.2% during the third quarter. Certuity LLC now owns 113,704 shares of the specialty retailer’s stock worth $9,863,000 after purchasing an additional 62,543 shares during the last quarter. Finally, Taikang Asset Management Hong Kong Co Ltd lifted its position in shares of Alibaba Group by 19.7% during the third quarter. Taikang Asset Management Hong Kong Co Ltd now owns 730,000 shares of the specialty retailer’s stock worth $63,320,000 after purchasing an additional 120,000 shares during the last quarter. 14.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BABA has been the topic of several research analyst reports. Robert W. Baird reduced their price target on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. dropped their price objective on shares of Alibaba Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. The Goldman Sachs Group dropped their price objective on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, Barclays dropped their price objective on shares of Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.44.

View Our Latest Analysis on Alibaba Group

Alibaba Group Trading Down 2.3 %

Shares of Alibaba Group stock opened at $72.13 on Monday. The firm’s 50-day moving average price is $73.36 and its two-hundred day moving average price is $77.91. The company has a market capitalization of $183.03 billion, a price-to-earnings ratio of 13.31 and a beta of 0.47. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $105.05. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABAGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The business had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, analysts forecast that Alibaba Group Holding Limited will post 7.97 earnings per share for the current fiscal year.

Alibaba Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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