Leo Wealth LLC Has $1.61 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Leo Wealth LLC lowered its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 6.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,131 shares of the specialty retailer’s stock after selling 1,052 shares during the quarter. Leo Wealth LLC’s holdings in Alibaba Group were worth $1,606,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BABA. Primecap Management Co. CA grew its holdings in shares of Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after purchasing an additional 1,074,175 shares in the last quarter. ARGA Investment Management LP boosted its stake in Alibaba Group by 39.2% during the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after buying an additional 1,009,397 shares in the last quarter. Discerene Group LP increased its holdings in Alibaba Group by 21.2% in the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after buying an additional 529,237 shares during the period. AMF Tjanstepension AB lifted its holdings in shares of Alibaba Group by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after acquiring an additional 178,999 shares during the period. Finally, Eminence Capital LP boosted its position in shares of Alibaba Group by 9.0% during the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after acquiring an additional 150,488 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on BABA shares. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Bank of America lifted their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird increased their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.63.

Alibaba Group Stock Down 0.5 %

Shares of BABA traded down $0.52 during mid-day trading on Tuesday, hitting $100.39. 10,389,075 shares of the company’s stock were exchanged, compared to its average volume of 17,858,732. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a 50-day simple moving average of $92.70 and a 200 day simple moving average of $82.51. The company has a market cap of $254.74 billion, a PE ratio of 23.68, a P/E/G ratio of 0.55 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period last year, the business earned $2.47 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast 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.