Alibaba Group Holding Limited (NYSE:BABA) is Selective Wealth Management Inc.’s 10th Largest Position

by · The Markets Daily

Selective Wealth Management Inc. lowered its holdings in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,524 shares of the specialty retailer’s stock after selling 7,254 shares during the period. Alibaba Group makes up 2.2% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 10th largest position. Selective Wealth Management Inc.’s holdings in Alibaba Group were worth $5,322,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA raised its stake in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after acquiring an additional 1,074,175 shares during the last quarter. FIL Ltd lifted its stake in Alibaba Group by 10.2% in the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock worth $823,986,000 after acquiring an additional 983,842 shares during the period. H&H International Investment LLC boosted its holdings in Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after acquiring an additional 1,918,730 shares in the last quarter. ARGA Investment Management LP increased its position in Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock valued at $259,194,000 after purchasing an additional 1,009,397 shares during the period. Finally, Discerene Group LP lifted its position in shares of Alibaba Group by 21.2% in the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock worth $218,627,000 after purchasing an additional 529,237 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

NYSE:BABA traded up $2.76 during trading hours on Thursday, reaching $110.65. The stock had a trading volume of 14,884,428 shares, compared to its average volume of 17,837,893. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a 50 day moving average price of $88.60 and a two-hundred day moving average price of $80.64. The stock has a market capitalization of $280.77 billion, a PE ratio of 25.26, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA – Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same period last year, the company earned $2.47 earnings per share. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BABA has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Susquehanna dropped their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Robert W. Baird raised their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Bank of America raised their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Monday. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.75.

Read Our Latest Analysis on Alibaba Group

About Alibaba Group

(Free Report)

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.

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