Sumitomo Mitsui Trust Holdings Inc. Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,052 shares of the specialty retailer’s stock after selling 8,323 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Alibaba Group were worth $4,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC purchased a new position in Alibaba Group in the 3rd quarter valued at about $203,000. Global Retirement Partners LLC raised its stake in Alibaba Group by 8.7% during the third quarter. Global Retirement Partners LLC now owns 2,176 shares of the specialty retailer’s stock worth $183,000 after acquiring an additional 175 shares during the period. Flagship Harbor Advisors LLC raised its stake in Alibaba Group by 192.0% during the third quarter. Flagship Harbor Advisors LLC now owns 7,656 shares of the specialty retailer’s stock worth $664,000 after acquiring an additional 5,034 shares during the period. DAVENPORT & Co LLC raised its stake in Alibaba Group by 16.9% during the third quarter. DAVENPORT & Co LLC now owns 6,550 shares of the specialty retailer’s stock worth $568,000 after acquiring an additional 945 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its stake in Alibaba Group by 4.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 3,170 shares of the specialty retailer’s stock worth $275,000 after acquiring an additional 140 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 2.6 %

Shares of BABA stock opened at $72.51 on Wednesday. The stock has a 50-day simple moving average of $73.11 and a 200 day simple moving average of $75.57. The stock has a market capitalization of $183.98 billion, a P/E ratio of 13.38 and a beta of 0.47. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. 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:BABA) last posted its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. During the same quarter last year, the business posted $2.44 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BABA. Macquarie lowered shares of Alibaba Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $88.50 to $85.40 in a research note on Thursday, February 8th. Citigroup cut their price objective on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Robert W. Baird reduced their target price on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.91.

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.