Kingswood Wealth Advisors LLC Trims Stock Position in Alibaba Group Holding Limited $BABA

Key Points

• Kingswood Wealth Advisors LLC significantly reduced its stake in Alibaba Group by 63.7%, holding 4,749 shares valued at $539,000 after selling 8,330 shares in the second quarter.
• Multiple institutional investors have boosted their holdings in Alibaba Group, with Temasek Holdings Private Ltd and American Century Companies Inc. increasing their stakes by 23.4% and 52.1% respectively in Q1.
• Despite a recent downgrade from Wall Street Zen, Alibaba has a consensus rating of "Buy" with several analysts raising target prices, boasting a market cap of $413.88 billion.

Kingswood Wealth Advisors LLC cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 63.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,749 shares of the specialty retailer's stock after selling 8,330 shares during the period. Kingswood Wealth Advisors LLC's holdings in Alibaba Group were worth $539,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd raised its stake in Alibaba Group by 23.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock valued at $728,633,000 after acquiring an additional 1,045,789 shares during the last quarter. American Century Companies Inc. increased its position in Alibaba Group by 52.1% during the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock worth $303,215,000 after purchasing an additional 785,494 shares during the period. Causeway Capital Management LLC increased its position in Alibaba Group by 42.6% during the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock worth $179,305,000 after purchasing an additional 404,842 shares during the period. WCM Investment Management LLC acquired a new position in Alibaba Group during the 1st quarter worth approximately $4,074,000. Finally, Avaii Wealth Management LLC acquired a new position in Alibaba Group during the 1st quarter worth approximately $563,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BABA shares. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Mizuho boosted their target price on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Erste Group Bank upgraded Alibaba Group from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Alibaba Group in a research report on Wednesday. Finally, Citigroup restated a "buy" rating on shares of Alibaba Group in a report on Wednesday, September 24th. One research 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 MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $185.71.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $173.60 on Friday. The business's fifty day moving average price is $145.53 and its two-hundred day moving average price is $127.35. The stock has a market cap of $413.88 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.14 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67.

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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