Sterneck Capital Management LLC Decreases Stock Position in Alibaba Group Holding Limited $BABA

Sterneck Capital Management LLC decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,240 shares of the specialty retailer’s stock after selling 877 shares during the period. Sterneck Capital Management LLC’s holdings in Alibaba Group were worth $1,048,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $26,000. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the 1st quarter valued at approximately $26,000. Summit Securities Group LLC increased its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the 1st quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $171.88 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $180.16. The stock has a market capitalization of $409.77 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.11. The business’s fifty day moving average price is $134.37 and its two-hundred day moving average price is $124.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BABA shares. Barclays lifted their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Bank of America boosted their price target on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen lowered Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, Jefferies Financial Group lifted their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $172.81.

About Alibaba Group

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.