Alibaba Group Holding Limited $BABA Shares Sold by Dodge & Cox

Key Points

• Dodge & Cox has reduced its stake in Alibaba Group by 21.8%, now holding 11,319,570 shares valued at approximately $1.50 billion.
• Several institutional investors have increased their holdings in Alibaba, with North Ridge Wealth Advisors acquiring shares valued at $26,000 and Hazlett Burt & Watson boosting their position by 1,960.0%.
• Current analyst ratings for Alibaba include 11 buy ratings and 2 hold ratings, with a consensus rating of "Moderate Buy" and an average price target of $159.67.

Dodge & Cox reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 21.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,319,570 shares of the specialty retailer's stock after selling 3,150,200 shares during the period. Dodge & Cox owned 0.47% of Alibaba Group worth $1,496,787,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the 1st quarter worth about $26,000. Summit Securities Group LLC boosted its stake in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group during the 1st quarter worth about $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group during the 1st quarter worth about $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BABA has been the topic of several recent analyst reports. Bank of America cut their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Finally, Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.67.

Alibaba Group Stock Up 4.0%

Shares of BABA traded up $4.7630 during trading on Friday, reaching $122.8530. The company's stock had a trading volume of 13,809,464 shares, compared to its average volume of 11,180,659. The company has a fifty day moving average of $116.41 and a two-hundred day moving average of $121.31. Alibaba Group Holding Limited has a twelve month low of $79.21 and a twelve month high of $148.43. The company has a market cap of $292.98 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.81 and a beta of 0.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

Alibaba Group Company 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.