Laurel Wealth Advisors LLC Trims Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Laurel Wealth Advisors LLC trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 41.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 500 shares of the specialty retailer’s stock after selling 350 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Alibaba Group were worth $39,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new position in Alibaba Group during the third quarter worth $26,000. Baystate Wealth Management LLC raised its position in shares of Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 216 shares during the last quarter. EdgeRock Capital LLC purchased a new position in Alibaba Group in the 4th quarter valued at about $26,000. GPS Wealth Strategies Group LLC increased its stake in Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock worth $28,000 after buying an additional 175 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group during the third quarter valued at approximately $30,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BABA shares. Mizuho reissued a “buy” rating and issued a $95.00 price target on shares of Alibaba Group in a research note on Wednesday, March 27th. Citigroup lowered their target price on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. The Goldman Sachs Group cut their price target on Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Robert W. Baird dropped their target price on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Finally, Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.91.

Alibaba Group Stock Up 1.1 %

NYSE BABA traded up $0.85 during trading hours on Monday, hitting $76.40. 13,185,991 shares of the company were exchanged, compared to its average volume of 17,925,299. The company has a 50 day moving average of $73.24 and a two-hundred day moving average of $75.27. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The firm has a market cap of $193.87 billion, a price-to-earnings ratio of 14.10 and a beta of 0.46. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. Alibaba Group’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Alibaba Group Holding Limited will post 7.54 earnings per share for the current year.

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.