State of New Jersey Common Pension Fund D Has $7.08 Million Stock Position in Alibaba Group Holding Limited $BABA

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Alibaba Group by 28.1%, holding 53,559 shares valued at approximately $7.08 million after selling 20,975 shares.
• Several institutional investors, including Nations Financial Group and American Century Companies, have either increased their holdings or established new stakes in Alibaba Group during the first quarter.
• Analysts have mixed outlooks on Alibaba's stock, with a current consensus rating of "Moderate Buy" and a price target averaging around $157.38, despite some firms lowering their price objectives recently.

State of New Jersey Common Pension Fund D cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 28.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,559 shares of the specialty retailer's stock after selling 20,975 shares during the period. State of New Jersey Common Pension Fund D's holdings in Alibaba Group were worth $7,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. increased its stake in Alibaba Group by 52.1% in the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock valued at $303,215,000 after acquiring an additional 785,494 shares during the last quarter. WCM Investment Management LLC bought a new position in Alibaba Group in the first quarter valued at approximately $4,074,000. KMG Fiduciary Partners LLC bought a new position in Alibaba Group in the first quarter valued at approximately $1,948,000. Avaii Wealth Management LLC bought a new position in Alibaba Group in the first quarter valued at approximately $563,000. Finally, Fiduciary Alliance LLC increased its stake in Alibaba Group by 18.3% in the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after acquiring an additional 18,230 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 0.4%

Shares of Alibaba Group stock traded down $0.5350 during trading on Wednesday, hitting $119.4550. The company's stock had a trading volume of 5,622,327 shares, compared to its average volume of 21,119,771. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $284.88 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.79 and a beta of 0.17. The stock has a 50-day moving average price of $116.19 and a two-hundred day moving average price of $120.74. Alibaba Group Holding Limited has a 52 week low of $79.21 and a 52 week high of $148.43.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of recent analyst reports. Mizuho decreased their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Robert W. Baird decreased their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Finally, Bank of America lowered their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.67.

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.