Circle Wealth Management LLC Decreases Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Circle Wealth Management LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,960 shares of the specialty retailer's stock after selling 2,898 shares during the period. Circle Wealth Management LLC's holdings in Alibaba Group were worth $760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rings Capital Management LLC boosted its position in Alibaba Group by 1.4% during the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after purchasing an additional 100 shares during the period. Lindbrook Capital LLC boosted its holdings in Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock worth $240,000 after buying an additional 101 shares during the period. Global Endowment Management LP grew its stake in Alibaba Group by 1.4% in the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after buying an additional 106 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in Alibaba Group by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock valued at $266,000 after acquiring an additional 108 shares during the period. Finally, TBH Global Asset Management LLC boosted its holdings in shares of Alibaba Group by 2.4% in the fourth quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer's stock worth $407,000 after acquiring an additional 112 shares during the period. Institutional investors own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BABA shares. Barclays increased their price objective on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Morgan Stanley raised shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $100.00 to $180.00 in a report on Monday, February 24th. Robert W. Baird raised their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Finally, Citigroup dropped their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Fourteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $150.36.

Alibaba Group Trading Down 3.5 %

Shares of NYSE BABA opened at $123.20 on Thursday. The stock has a market capitalization of $294.19 billion, a P/E ratio of 17.80, a PEG ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 1-year low of $71.80 and a 1-year high of $148.43. The business's 50 day moving average is $124.55 and its two-hundred day moving average is $105.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). The firm had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. As a group, research analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

About Alibaba Group

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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