Alibaba Group Holding Limited $BABA Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 131,873 shares of the specialty retailer’s stock after selling 3,611 shares during the period. Alibaba Group makes up approximately 1.3% of Meritage Portfolio Management’s investment portfolio, making the stock its 9th largest position. Meritage Portfolio Management’s holdings in Alibaba Group were worth $19,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BABA. NTV Asset Management LLC raised its stake in Alibaba Group by 127.4% in the 3rd quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock valued at $2,707,000 after purchasing an additional 8,484 shares during the last quarter. Oriental Harbor Investment Master Fund acquired a new position in Alibaba Group in the 3rd quarter valued at about $39,500,000. ARK Investment Management LLC acquired a new position in Alibaba Group in the 3rd quarter valued at about $37,565,000. Vanguard Personalized Indexing Management LLC raised its stake in Alibaba Group by 14.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 30,361 shares of the specialty retailer’s stock valued at $5,427,000 after purchasing an additional 3,929 shares during the last quarter. Finally, Great Hill Capital LLC acquired a new position in Alibaba Group in the 3rd quarter valued at about $2,207,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings downgraded shares of Alibaba Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 27th. DZ Bank downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a research note on Friday, March 20th. Morgan Stanley dropped their price objective on shares of Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Freedom Capital downgraded shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Susquehanna dropped their price objective on shares of Alibaba Group from $190.00 to $170.00 and set a “positive” rating for the company in a research note on Thursday, March 26th. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $187.68.

Alibaba Group Stock Down 0.7%

Shares of NYSE:BABA opened at $140.09 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.33. Alibaba Group Holding Limited has a 1 year low of $103.71 and a 1 year high of $192.67. The stock has a market capitalization of $335.07 billion, a P/E ratio of 26.43, a PEG ratio of 2.54 and a beta of 0.50. The stock has a 50-day simple moving average of $137.09 and a 200-day simple moving average of $153.52.

Alibaba Group (NYSE:BABA) last issued its earnings results on Saturday, February 14th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter. Alibaba Group had a return on equity of 7.43% and a net margin of 9.12%.The business had revenue of $40.71 billion during the quarter. Equities analysts forecast that Alibaba Group Holding Limited will post 4.39 earnings per share for the current year.

About Alibaba Group

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.