M&T Bank Corp reduced its stake in shares of Alibaba Group Holding Ltd. (NYSE:BABA) by 8.9% during the third quarter, Holdings Channel reports. The firm owned 38,230 shares of the company’s stock after selling 3,748 shares during the period. M&T Bank Corp’s holdings in Alibaba Group Holding were worth $4,045,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Van Hulzen Asset Management LLC bought a new stake in Alibaba Group Holding during the third quarter worth about $130,000. Equitec Proprietary Markets LLC bought a new stake in Alibaba Group Holding during the third quarter worth about $148,000. Cornerstone Advisors Inc. increased its stake in Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock worth $127,000 after buying an additional 39 shares during the last quarter. Bank of The West bought a new stake in Alibaba Group Holding during the third quarter worth about $219,000. Finally, Grassi Investment Management bought a new stake in Alibaba Group Holding during the third quarter worth about $222,000. Institutional investors and hedge funds own 34.93% of the company’s stock.

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

Shares of Alibaba Group Holding Ltd. (NYSE:BABA) traded up 1.31% during midday trading on Tuesday, hitting $94.99. 14,128,635 shares of the stock traded hands. Alibaba Group Holding Ltd. has a 52 week low of $59.25 and a 52 week high of $109.87. The firm’s 50-day moving average is $98.92 and its 200 day moving average is $91.14. The company has a market capitalization of $235.39 billion, a price-to-earnings ratio of 50.74 and a beta of 2.93.

Alibaba Group Holding (NYSE:BABA) last released its earnings results on Wednesday, November 2nd. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Alibaba Group Holding had a return on equity of 13.29% and a net margin of 26.44%. During the same period in the previous year, the business posted $0.57 EPS. Equities analysts forecast that Alibaba Group Holding Ltd. will post $3.26 earnings per share for the current year.

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A number of equities research analysts have issued reports on BABA shares. Standpoint Research downgraded shares of Alibaba Group Holding from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Robert W. Baird reiterated an “outperform” rating and issued a $94.00 target price on shares of Alibaba Group Holding in a research report on Tuesday, August 2nd. Brean Capital reiterated a “buy” rating on shares of Alibaba Group Holding in a research report on Tuesday, August 2nd. MKM Partners set a $95.00 target price on shares of Alibaba Group Holding and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. increased their target price on shares of Alibaba Group Holding to $104.00 and gave the stock a “buy” rating in a research report on Sunday, August 7th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $117.01.

About Alibaba Group Holding

Alibaba Group Holding Limited is a holding company. The Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (the PRC or China) and internationally.

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