Fragasso Financial Advisors Inc Trims Stake in Alibaba Group Holding Limited $BABA

Fragasso Financial Advisors Inc cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 27.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,521 shares of the specialty retailer's stock after selling 1,685 shares during the period. Fragasso Financial Advisors Inc's holdings in Alibaba Group were worth $513,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BABA. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alibaba Group by 85.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock valued at $1,131,558,000 after acquiring an additional 3,947,460 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after acquiring an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Alibaba Group by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after acquiring an additional 2,584,480 shares during the last quarter. Finally, Trivest Advisors Ltd acquired a new position in Alibaba Group in the 1st quarter valued at $295,270,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Up 2.6%

Shares of Alibaba Group stock opened at $162.11 on Wednesday. The company has a fifty day moving average price of $125.45 and a 200 day moving average price of $122.87. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $163.00. The stock has a market cap of $386.48 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 1.94 and a beta of 0.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group upped their price objective on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a report on Saturday, August 30th. Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a report on Wednesday, September 3rd. Zacks Research upgraded Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Finally, Citigroup upped their price objective on Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and a consensus price target of $167.40.

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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