Alibaba Group Holding Limited $BABA Holdings Trimmed by M&G PLC

M&G PLC trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 24.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 326,551 shares of the specialty retailer’s stock after selling 102,909 shares during the period. M&G PLC’s holdings in Alibaba Group were worth $36,900,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC lifted its position in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group in the first quarter worth $26,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of Alibaba Group during the second quarter worth $26,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA opened at $160.60 on Wednesday. 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 stock’s 50 day moving average price is $166.52 and its two-hundred day moving average price is $135.96. The firm has a market capitalization of $383.20 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BABA. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Jefferies Financial Group lifted their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Mizuho set a $195.00 price target on shares of Alibaba Group in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein upped their price target on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.18.

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.