Steward Partners Investment Advisory LLC Sells 7,355 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Steward Partners Investment Advisory LLC reduced its holdings in Alibaba Group by 15%, selling 7,355 shares, bringing its total ownership to 41,782 shares valued at approximately $5.53 million.
• Other institutional investors, including American Century Companies Inc. and Fiduciary Alliance LLC, have increased their stakes in Alibaba, highlighting ongoing interest in the stock.
• Alibaba's stock trading data shows a market cap of $289.54 billion and a current price-to-earnings ratio of 16.30, alongside various analyst price targets, with an average price target of $157.38.

Steward Partners Investment Advisory LLC reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,782 shares of the specialty retailer's stock after selling 7,355 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Alibaba Group were worth $5,525,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in BABA. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alibaba Group by 3,214.5% during 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares during the last quarter. Trivest Advisors Ltd purchased a new position in Alibaba Group in the first quarter valued at about $295,270,000. Invesco Ltd. increased its position in Alibaba Group by 55.9% in the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after purchasing an additional 1,259,718 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Alibaba Group by 95.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after purchasing an additional 1,030,999 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

BABA traded up $4.9920 during midday trading on Friday, reaching $123.0820. The company's stock had a trading volume of 6,107,627 shares, compared to its average volume of 20,949,961. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $116.21 and a 200 day simple moving average of $120.87. The stock has a market cap of $293.53 billion, a P/E ratio of 16.52, a PEG ratio of 1.76 and a beta of 0.17. Alibaba Group Holding Limited has a twelve month low of $79.21 and a twelve month high of $148.43.

Wall Street Analyst Weigh In

A number of research firms recently commented on BABA. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Bank of America decreased their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Finally, Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.67.

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.