NFJ Investment Group LLC Has $1.22 Million Holdings in Alibaba Group Holding Limited $BABA

Key Points

• NFJ Investment Group LLC reduced its holdings in Alibaba Group by 49.7%, selling 9,105 shares and retaining only 9,197 shares, valued at approximately $1.216 million.
• Recent analyst ratings for Alibaba include a maintained "outperform" rating with a new price target of $160.00 and multiple price target adjustments from other analysts, indicating a consensus rating of "Buy".
• Alibaba's stock opened at $135.49 with a market cap of $323.03 billion, reflecting its strong market position in the tech and e-commerce sectors.

NFJ Investment Group LLC decreased its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,197 shares of the specialty retailer's stock after selling 9,105 shares during the quarter. NFJ Investment Group LLC's holdings in Alibaba Group were worth $1,216,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BABA. Brighton Jones LLC lifted its holdings in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after buying an additional 981 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of Alibaba Group by 68.1% in the fourth quarter. Aptus Capital Advisors LLC now owns 3,270 shares of the specialty retailer's stock valued at $277,000 after buying an additional 1,325 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Alibaba Group by 13.0% in the fourth quarter. Ameriprise Financial Inc. now owns 471,652 shares of the specialty retailer's stock valued at $39,992,000 after buying an additional 54,342 shares during the period. Cary Street Partners Financial LLC purchased a new stake in shares of Alibaba Group during the fourth quarter valued at $439,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Alibaba Group by 5.0% during the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock valued at $950,000 after purchasing an additional 536 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Up 3.5%

NYSE:BABA traded up $4.57 during trading hours on Friday, hitting $135.49. 19,166,179 shares of the company's stock traded hands, compared to its average volume of 17,478,944. The firm has a market cap of $323.03 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.89 and a beta of 0.11. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The stock's fifty day moving average price is $119.59 and its two-hundred day moving average price is $121.99.

Wall Street Analysts Forecast Growth

BABA has been the subject of several analyst reports. UBS Group reaffirmed a "buy" rating and set a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Citigroup upped their target price on Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Arete Research raised Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, Benchmark upped their target price on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $163.53.

About Alibaba Group

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.