IFP Advisors Inc Lowers Position in Alibaba Group Holding Limited $BABA

IFP Advisors Inc lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 32.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,802 shares of the specialty retailer’s stock after selling 2,348 shares during the quarter. IFP Advisors Inc’s holdings in Alibaba Group were worth $545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group in the first quarter worth $26,000. Summit Securities Group LLC raised its position in Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Alibaba Group during the first quarter valued at about $26,000. 1248 Management LLC purchased a new stake in Alibaba Group during the first quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. raised its position in Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 2.3%

NYSE BABA opened at $162.90 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $388.37 billion, a PE ratio of 18.94, a PEG ratio of 2.09 and a beta of 0.18. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The business’s 50-day moving average is $148.27 and its 200 day moving average is $127.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BABA shares. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Wall Street Zen downgraded Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Zacks Research upgraded Alibaba Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Robert W. Baird raised their price target on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, UBS Group restated a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.