Avidian Wealth Solutions LLC Reduces Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Avidian Wealth Solutions LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 38.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,476 shares of the specialty retailer’s stock after selling 2,200 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Alibaba Group were worth $269,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sanders Capital LLC increased its holdings in shares of Alibaba Group by 322.7% in the third quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock valued at $1,303,636,000 after purchasing an additional 11,473,618 shares during the period. Assenagon Asset Management S.A. boosted its position in Alibaba Group by 461.2% in the third quarter. Assenagon Asset Management S.A. now owns 4,215,884 shares of the specialty retailer’s stock valued at $365,686,000 after buying an additional 3,464,723 shares during the last quarter. Blue Pool Management Ltd. acquired a new position in Alibaba Group in the 4th quarter worth approximately $151,726,000. Morgan Stanley raised its position in Alibaba Group by 13.8% during the 3rd quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock worth $1,007,058,000 after buying an additional 1,406,491 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Alibaba Group by 65.6% during the 3rd quarter. American Century Companies Inc. now owns 3,508,392 shares of the specialty retailer’s stock worth $304,318,000 after buying an additional 1,389,233 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Up 0.3 %

BABA opened at $81.55 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $102.50. The company has a market cap of $206.93 billion, a PE ratio of 15.05 and a beta of 0.44. The company has a 50-day moving average price of $73.57 and a 200 day moving average price of $75.11.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same period in the previous year, the company earned $2.44 EPS. Alibaba Group’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Barclays cut their price target on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, January 12th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Truist Financial dropped their target price on Alibaba Group from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Citigroup decreased their price target on Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.49.

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.