Means Investment CO. Inc. Sells 743 Shares of Alibaba Group Holding Limited $BABA

Means Investment CO. Inc. decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,930 shares of the specialty retailer’s stock after selling 743 shares during the quarter. Means Investment CO. Inc.’s holdings in Alibaba Group were worth $1,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 981 shares in the last quarter. Simplicity Wealth LLC purchased a new position in Alibaba Group in the first quarter worth $205,000. CX Institutional bought a new position in Alibaba Group in the 1st quarter valued at $268,000. RMR Wealth Builders purchased a new stake in shares of Alibaba Group during the 1st quarter valued at $287,000. Finally, BigSur Wealth Management LLC raised its stake in shares of Alibaba Group by 6.0% during the 1st quarter. BigSur Wealth Management LLC now owns 24,730 shares of the specialty retailer’s stock worth $3,270,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 8.6%

Shares of NYSE BABA opened at $158.76 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market cap of $378.50 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.88 and a beta of 0.18. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The business has a 50-day simple moving average of $146.36 and a two-hundred day simple moving average of $127.50.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BABA. Bank of America raised their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Susquehanna increased their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. UBS Group reissued a “buy” rating and set a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Alibaba Group currently has an average rating of “Buy” and a consensus target price of $188.06.

Alibaba Group 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.