Banque Pictet & Cie SA Decreases Stake in Alibaba Group Holding Limited $BABA

Key Points

• Banque Pictet & Cie SA has decreased its stake in Alibaba Group by 41.6%, holding 29,000 shares worth approximately $3.29 million after selling 20,670 shares during the second quarter.
• Other investors such as BigSur Wealth Management and EWG Elevate Inc. have increased their holdings in Alibaba, indicating mixed sentiment among institutional investors.
• Analysts maintain a favorable outlook on Alibaba, with the stock receiving multiple "buy" ratings and a consensus price target of $172.81.

Banque Pictet & Cie SA lowered its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 41.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,000 shares of the specialty retailer's stock after selling 20,670 shares during the period. Banque Pictet & Cie SA's holdings in Alibaba Group were worth $3,289,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. BigSur Wealth Management LLC grew its holdings in Alibaba Group by 3.6% during the second quarter. BigSur Wealth Management LLC now owns 25,630 shares of the specialty retailer's stock valued at $2,958,000 after purchasing an additional 900 shares during the period. Harrell Investment Partners LLC bought a new stake in Alibaba Group during the second quarter valued at about $367,000. Missouri Trust & Investment Co grew its holdings in Alibaba Group by 2.9% during the second quarter. Missouri Trust & Investment Co now owns 13,200 shares of the specialty retailer's stock valued at $1,497,000 after purchasing an additional 375 shares during the period. EWG Elevate Inc. boosted its stake in shares of Alibaba Group by 5.2% in the second quarter. EWG Elevate Inc. now owns 1,977 shares of the specialty retailer's stock worth $224,000 after acquiring an additional 98 shares during the period. Finally, Ballentine Partners LLC boosted its stake in shares of Alibaba Group by 17.5% in the second quarter. Ballentine Partners LLC now owns 17,221 shares of the specialty retailer's stock worth $1,953,000 after acquiring an additional 2,570 shares during the period. Institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 2.0%

BABA opened at $171.88 on Friday. 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 capitalization of $409.77 billion, a P/E ratio of 19.99, a PEG ratio of 2.02 and a beta of 0.11. The stock's fifty day moving average is $134.37 and its two-hundred day moving average is $124.70. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $180.16.

Analyst Ratings Changes

A number of research firms have recently weighed in on BABA. UBS Group reaffirmed a "buy" rating and issued a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Benchmark increased their price target on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Mizuho increased their price target on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Jefferies Financial Group increased their price target on Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Finally, Bank of America increased their price target on Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $172.81.

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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