Candriam Luxembourg S.C.A. decreased its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 557,372 shares of the specialty retailer’s stock after selling 56,320 shares during the quarter. Alibaba Group comprises 1.2% of Candriam Luxembourg S.C.A.’s holdings, making the stock its 10th largest holding. Candriam Luxembourg S.C.A.’s holdings in Alibaba Group were worth $91,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BABA. Bank of Montreal Can grew its holdings in Alibaba Group by 6.0% during the second quarter. Bank of Montreal Can now owns 786,505 shares of the specialty retailer’s stock worth $145,920,000 after buying an additional 44,704 shares in the last quarter. Welch & Forbes LLC grew its holdings in Alibaba Group by 2.4% during the second quarter. Welch & Forbes LLC now owns 15,526 shares of the specialty retailer’s stock worth $2,881,000 after buying an additional 365 shares in the last quarter. Concorde Asset Management LLC bought a new stake in Alibaba Group during the second quarter worth $333,000. Trinity Street Asset Management LLP grew its holdings in Alibaba Group by 3.9% during the second quarter. Trinity Street Asset Management LLP now owns 396,257 shares of the specialty retailer’s stock worth $73,517,000 after buying an additional 14,902 shares in the last quarter. Finally, Segment Wealth Management LLC bought a new stake in Alibaba Group during the second quarter worth $227,000. Hedge funds and other institutional investors own 38.86% of the company’s stock.

Shares of NYSE BABA opened at $146.98 on Wednesday. Alibaba Group Holding Ltd has a one year low of $130.06 and a one year high of $211.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $365.78 billion, a PE ratio of 40.23, a PEG ratio of 1.32 and a beta of 2.35.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 2nd. The specialty retailer reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. Alibaba Group had a return on equity of 12.99% and a net margin of 19.33%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $12.51 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 49.6% compared to the same quarter last year. As a group, research analysts expect that Alibaba Group Holding Ltd will post 3.48 EPS for the current fiscal year.

Several equities research analysts recently issued reports on BABA shares. Raymond James decreased their price target on Alibaba Group from $300.00 to $280.00 and set a “strong-buy” rating for the company in a report on Thursday, August 16th. SunTrust Banks cut their price objective on Alibaba Group from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Deutsche Bank set a $196.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research report on Thursday, August 23rd. MED cut their price objective on Alibaba Group to $196.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $256.00 price objective on shares of Alibaba Group in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $214.55.

TRADEMARK VIOLATION NOTICE: “Alibaba Group Holding Ltd (BABA) Stake Lowered by Candriam Luxembourg S.C.A.” was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and international copyright & trademark law. The correct version of this piece can be viewed at https://www.dailypolitical.com/2018/11/14/alibaba-group-holding-ltd-baba-stake-lowered-by-candriam-luxembourg-s-c-a.html.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Featured Article: What is a bull market?

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Ltd (NYSE:BABA).

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

Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.