Nicholas Hoffman & Company LLC. Has $218,000 Stake in Alibaba Group Holding Limited (NYSE:BABA)

Nicholas Hoffman & Company LLC. trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 66.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,055 shares of the specialty retailer’s stock after selling 4,000 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Alibaba Group were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co increased its stake in shares of Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after purchasing an additional 139,134 shares during the period. Generate Investment Management Ltd bought a new position in shares of Alibaba Group during the third quarter worth approximately $12,656,000. SRN Advisors LLC lifted its holdings in Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 9,663 shares during the period. ORG Partners LLC lifted its holdings in Alibaba Group by 52,685.7% during the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after buying an additional 11,064 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in Alibaba Group by 6.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after buying an additional 50,000 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BABA shares. Susquehanna lowered their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Sanford C. Bernstein lifted their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Robert W. Baird lifted their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Truist Financial lowered their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $98.69 on Thursday. The company has a market cap of $250.43 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The business has a 50 day moving average price of $95.08 and a 200-day moving average price of $83.70. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. Equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

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.