Meitav Investment House Ltd. Sells 1,800 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Meitav Investment House Ltd. reduced its holdings in Alibaba Group by 9.6%, selling 1,800 shares in the second quarter, leaving it with 16,906 shares worth approximately $1,919,000.
• Several institutional investors, including Accent Capital Management LLC and Fifth Third Bancorp, have adjusted their positions in Alibaba, contributing to a total institutional ownership of 13.47% in the stock.
• Recent analyst activity shows a generally positive outlook, with Bank of America raising its price target on Alibaba to $195.00 and a consensus rating of "Buy."

Meitav Investment House Ltd. lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,906 shares of the specialty retailer's stock after selling 1,800 shares during the quarter. Meitav Investment House Ltd.'s holdings in Alibaba Group were worth $1,919,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BABA. Accent Capital Management LLC grew its stake in shares of Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after acquiring an additional 82 shares in the last quarter. Greenleaf Trust boosted its holdings in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after purchasing an additional 85 shares during the period. Principal Securities Inc. grew its position in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after purchasing an additional 89 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of Alibaba Group by 1.1% during the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after purchasing an additional 93 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Alibaba Group by 1.0% in the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer's stock valued at $1,109,000 after buying an additional 94 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of analyst reports. Bank of America increased their price target on Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Susquehanna upped their target price on Alibaba Group from $175.00 to $190.00 and gave the company a "positive" rating in a research report on Thursday, September 18th. Citigroup reissued a "buy" rating on shares of Alibaba Group in a report on Wednesday, September 24th. Robert W. Baird boosted their price target on Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $170.00 to $245.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $184.19.

Alibaba Group Stock Performance

NYSE:BABA opened at $187.24 on Tuesday. 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 firm has a market capitalization of $446.39 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.22 and a beta of 0.18. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The stock's 50-day simple moving average is $141.95 and its 200 day simple moving average is $126.33.

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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