Truist Financial Corp Decreases Stock Position in Alibaba Group Holding Limited $BABA

Truist Financial Corp lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 18.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 85,062 shares of the specialty retailer's stock after selling 19,758 shares during the period. Truist Financial Corp's holdings in Alibaba Group were worth $9,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BABA. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC increased its stake in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new stake in Alibaba Group in the first quarter worth $26,000. 1248 Management LLC purchased a new stake in Alibaba Group in the first quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Mizuho increased their target price on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Citigroup reiterated a "buy" rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Benchmark increased their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. UBS Group reiterated a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $181.88.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $187.94 on Monday. The firm has a market cap of $448.06 billion, a P/E ratio of 21.85, a P/E/G ratio of 2.22 and a beta of 0.18. 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 12 month low of $80.06 and a 12 month high of $192.67. The stock's fifty day moving average price is $140.65 and its 200-day moving average price is $125.96.

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.

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