Welch & Forbes LLC Has $640,000 Stake in Alibaba Group Holding Limited (NYSE:BABA)

Welch & Forbes LLC lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 26.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,324 shares of the specialty retailer’s stock after selling 1,567 shares during the period. Welch & Forbes LLC’s holdings in Alibaba Group were worth $640,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Andesa Financial Management Inc. raised its holdings in Alibaba Group by 7.3% in the 3rd quarter. Andesa Financial Management Inc. now owns 1,423 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 97 shares during the period. Evanson Asset Management LLC boosted its position in Alibaba Group by 5.1% in the third quarter. Evanson Asset Management LLC now owns 1,447 shares of the specialty retailer’s stock valued at $332,000 after buying an additional 70 shares in the last quarter. Lincoln Capital LLC boosted its position in Alibaba Group by 12.0% in the third quarter. Lincoln Capital LLC now owns 36,989 shares of the specialty retailer’s stock valued at $5,476,000 after buying an additional 3,949 shares in the last quarter. Greylin Investment Mangement Inc. boosted its position in Alibaba Group by 188.9% in the third quarter. Greylin Investment Mangement Inc. now owns 82,005 shares of the specialty retailer’s stock valued at $12,141,000 after buying an additional 53,617 shares in the last quarter. Finally, Sanders Morris Harris LLC boosted its position in Alibaba Group by 137.0% in the third quarter. Sanders Morris Harris LLC now owns 3,200 shares of the specialty retailer’s stock valued at $474,000 after buying an additional 1,850 shares in the last quarter. 23.71% of the stock is owned by institutional investors.

BABA opened at $136.52 on Thursday. The company’s 50 day moving average is $158.79 and its 200-day moving average is $185.28. Alibaba Group Holding Limited has a 1-year low of $131.22 and a 1-year high of $279.33. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.12. The company has a market cap of $370.09 billion, a P/E ratio of 19.59, a PEG ratio of 1.20 and a beta of 0.86.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, November 18th. The specialty retailer reported $11.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $9.74. Alibaba Group had a net margin of 15.27% and a return on equity of 12.39%. The company had revenue of $200.69 billion for the quarter, compared to the consensus estimate of $204.97 billion. During the same period last year, the company posted $1.32 EPS. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities analysts forecast that Alibaba Group Holding Limited will post 7.52 EPS for the current year.

BABA has been the topic of a number of research reports. Susquehanna reduced their target price on shares of Alibaba Group from $350.00 to $310.00 and set a “positive” rating on the stock in a research report on Thursday, August 5th. CLSA reduced their target price on shares of Alibaba Group from $273.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 19th. UBS Group dropped their price target on shares of Alibaba Group from $280.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. HSBC dropped their price target on shares of Alibaba Group from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Finally, Robert W. Baird dropped their price target on shares of Alibaba Group from $260.00 to $180.00 and set an “outperform” rating for the company in a research note on Friday, November 19th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $247.11.

Alibaba Group Profile

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

See Also: Capital Gains

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

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