V2 Financial group LLC Reduces Position in Alibaba Group Holding Limited (NYSE:BABA)

V2 Financial group LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,357 shares of the specialty retailer’s stock after selling 673 shares during the quarter. Alibaba Group comprises approximately 1.6% of V2 Financial group LLC’s portfolio, making the stock its 11th biggest holding. V2 Financial group LLC’s holdings in Alibaba Group were worth $2,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Venturi Wealth Management LLC raised its holdings in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after acquiring an additional 121 shares during the last quarter. ICA Group Wealth Management LLC increased its stake in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after buying an additional 139 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after buying an additional 143 shares during the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BABA has been the topic of several research analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Bank of America upped their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Robert W. Baird upped their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Mizuho lifted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Stock Up 1.3 %

Shares of NYSE BABA opened at $95.44 on Tuesday. The firm has a market cap of $228.58 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 0.42 and a beta of 0.35. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock’s 50-day simple moving average is $97.49 and its 200-day simple moving average is $85.28.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period in the prior year, the company posted $2.47 EPS. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 8.51 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.