Alibaba Group Holding Limited (NYSE:BABA) Stake Lessened by Procyon Advisors LLC

Procyon Advisors LLC cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,513 shares of the specialty retailer’s stock after selling 799 shares during the period. Procyon Advisors LLC’s holdings in Alibaba Group were worth $1,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley lifted its position in shares of 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 acquiring an additional 1,406,491 shares in the last quarter. Sanders Capital LLC lifted its position in shares of 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 acquiring an additional 11,473,618 shares in the last quarter. Fiduciary Alliance LLC lifted its position in shares of 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 acquiring an additional 3,040 shares in the last quarter. Certuity LLC lifted its position in shares of Alibaba Group by 122.2% in the 3rd quarter. Certuity LLC now owns 113,704 shares of the specialty retailer’s stock valued at $9,863,000 after acquiring an additional 62,543 shares in the last quarter. Finally, Taikang Asset Management Hong Kong Co Ltd lifted its position in shares of Alibaba Group by 19.7% in the 3rd quarter. Taikang Asset Management Hong Kong Co Ltd now owns 730,000 shares of the specialty retailer’s stock valued at $63,320,000 after acquiring an additional 120,000 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Alibaba Group stock traded up $0.74 during mid-day trading on Thursday, reaching $72.33. The company had a trading volume of 3,551,797 shares, compared to its average volume of 18,998,645. The company has a 50 day moving average of $73.39 and a 200-day moving average of $77.64. The firm has a market cap of $183.54 billion, a price-to-earnings ratio of 13.21 and a beta of 0.47. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week 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: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 company had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 7.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. 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. JPMorgan Chase & Co. dropped their price target 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. Morgan Stanley restated an “equal weight” rating and set a $90.00 price target (down previously from $110.00) on shares of Alibaba Group in a research note on Friday, December 1st. Susquehanna dropped their price target on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 8th. Finally, Barclays dropped their price target 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.44.

Alibaba Group Company Profile

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.