Alibaba Group Holding Limited $BABA Shares Sold by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC has reduced its stake in Alibaba Group Holding Limited by 25.0%, holding 6,087 shares valued at approximately $690,000 after selling 2,032 shares in the second quarter.
• Analysts have raised their price targets for Alibaba, with Jefferies Financial Group increasing their projection from $178.00 to $230.00, reflecting growing confidence in the stock's potential.
• As of now, Alibaba has received a consensus rating of "Buy" from analysts, with one strong buy, seventeen buy ratings, and one hold rating.

HB Wealth Management LLC cut its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,087 shares of the specialty retailer's stock after selling 2,032 shares during the period. HB Wealth Management LLC's holdings in Alibaba Group were worth $690,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BABA. Accent Capital Management LLC increased its holdings in shares of Alibaba Group by 5.5% in the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after acquiring an additional 82 shares during the period. Greenleaf Trust increased its stake in shares of Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after purchasing an additional 85 shares during the period. Principal Securities Inc. increased its position in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after acquiring an additional 89 shares during the period. Institute for Wealth Management LLC. raised its stake in Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after acquiring an additional 93 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Alibaba Group by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer's stock worth $1,109,000 after acquiring an additional 94 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Down 0.7%

Shares of NYSE BABA opened at $187.94 on Friday. The business has a fifty day simple moving average of $140.65 and a 200-day simple moving average of $126.04. 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 company has a market cap of $448.06 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 2.22 and a beta of 0.18. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BABA. Jefferies Financial Group raised their price target on Alibaba Group from $178.00 to $230.00 and gave the company a "buy" rating in a report on Monday, September 29th. Robert W. Baird raised their target price on shares of Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Erste Group Bank raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday. Barclays raised their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Finally, Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $181.88.

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.

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